Across the Capital Region, real estate development projects are reshaping the way we live and work. From new mixed-use destinations to long-dormant downtown landmarks getting a second life, population growth, rising housing demand, and renewed investment are driving change. Thoughtful developers are pioneering projects that balance convenience with historic preservation, reflecting evolving priorities for housing and community. Let’s take a look at a few of the new developments poised to reshape everyday life in the Capital Region.
146 Marketplace
Halfmoon
At the intersection of Route 146 and Old Route 146, the aptly named 146 Marketplace (pictured above) is taking shape as a walkable, mixed-use destination anchored by the Capital Region’s second Healthy Living Market & Café location (the first is in Wilton). Developed by Luizzi Companies, the project will combine apartments with retail, restaurants, and office space with the goal of becoming a lively community hub for southern Saratoga County. Construction is happening in phases, with openings expected within the next two years.
Freedom Springs
Albany
Freedom Springs, located in north Albany, is a large-scale development focused on affordable housing for seniors and veterans. The Vecino Group–led project will offer around 120 affordable units, along with street-level commercial space. One café has already been leased, with other opportunities available. Construction is underway, with completion expected in 2026.
Masonic Temple
Schenectady
Several long-vacant landmarks in downtown Schenectady, including the former Masonic Temple, have recently been sold, paving the way for a $15 million redevelopment. While final plans are still in the works, the properties are expected to include a mix of residential and commercial spaces, giving new life to the city’s ongoing restoration efforts.
Mill Town Centre
Milton
Located just outside of Saratoga’s city limits is the up-and-coming town of Milton, an affordable-in-comparison residential area that’s seen consistent population growth over the last few years. The Mill Town Centre project will build on that momentum. Developers Wayne and Tom Samascott are planning for a mix of apartment buildings and commercial spaces along Trieble Avenue and Rowland Street, right next to the Hannaford plaza. Plans include restaurants, shops, clubhouse amenities, walking trails, and outdoor spaces.
The Ilium Building
Troy
The Ilium Building is one of Troy’s most recognizable historic landmarks. Evermore Hall, a wedding and event venue, is already open inside, and other floors are being redeveloped for apartments, hotel-style rooms, a spa/fitness lounge, and Ilium Brewing Co. The redevelopment of this early-20th-century building highlights Troy’s focus on preserving history while adapting to modern needs.
Tiny Home Community
Lansingburgh
Tiny homes are growing in popularity for their low-maintenance lifestyle and sense of community. A new project in Lansingburgh, on the former Leonard Hospital site, will feature 86 cottage-style rental homes, ranging from 500–800 square feet. Led by Gulfstream Developers with a $15 million budget, the community is designed for older adults who want to downsize while staying independent, making it perfect for retirees and empty nesters.
