City Scoop: Albany/Schenectady/ Troy, NY
Albany’s design and construction market has seen significant growth in the past five years, Woodside says.
In education, “a round of midsize and large projects reinvented how space in schools” could support science and technology fields, preparing students either for college study or to join a “locally skilled workforce” for global manufacturing and pharmaceutical companies operating in the area, he says.
Young professionals are looking for “small urban living opportunities,” Woodside says, spurring housing around historic areas like the Hudson River waterfront and the cities of Troy and Saratoga.
Funding can be a challenge for educational projects, he says, as “the personal property tax structure to fund K-12 schools creates great inequities in school districts around the state.”
And shutdowns spurred by COVID-19 have resulted in delayed or stopped projects. Woodside notes: “This uncertainty is already having an effect on the design industry, and the significant growth experienced in the construction industry will feel the greatest effect of this over the next few years.”