Planning Board to decide on 800-unit mixed-use development
COLONIE — The anticipated transformation of the former Tobin’s First Prize property could be close to final site approval.
The consolidated planning board, comprising representatives from both the City of Albany and the Town of Colonie, is expected to discuss and possibly decide upon final site approval for an 800-unit mixed-use development submitted by real estate developer Richbell Capital.
The board is scheduled to meet on Monday, Aug. 19.
Steve Heider, chairman of the special board, told the Albany Business Review that they are “very close” to a decision. The board has been reviewing the plans for more than a year.
The project, known as the First Prize Center, is set to include luxury rental apartments, a hotel, food and beverage services, a wellness and fitness center, and coworking office space. The development aims to create a functional and walkable destination that integrates living, working, entertainment, and fitness facilities.
The property is located near Exit 5 of I-90, making it easily accessible from the region’s major highways, including the New York State Thruway and the Adirondack Northway. The Albany NanoTech Complex and the University at Albany are just over two miles from the site.
Additionally, the First Prize Center is in close proximity to downtown Albany, Albany Airport, and the Amtrak Train Station, enhancing its connectivity within the region.
However, redevelopment efforts have been slow. Demolition of the former meatpacking building, a large structure of reinforced concrete left to decay over the past 30 years, started nearly three years after Richbell Capital purchased the property in 2018. The pandemic hampered efforts, causing developers to tweak the original design, which initially called for more commercial office space.
By 2022, the 200-foot smokestack was all that remained of the former Tobin’s First Prize on Exchange Street.
Jackson Demolition spent months meticulously knocking down the 500,000-square-foot building, grinding the concrete on site. Crews have also been digging up tons more concrete that acted as footings to support the building for decades and are likewise grinding it up for use when rebuilding the site begins.
The consolidated planning board was created specifically for the development of this property, which lies on both sides of the Albany City Line.
Tobin’s First Prize was once a major employer in the Capital Region. The facility was built in the early 20th century by the Tobin Packing Company, which specialized in pork products and became well-known for its “First Prize” brand of hot dogs and other meats.
At its peak, Tobin’s First Prize was one of the largest meatpacking plants in the area, employing hundreds of workers and playing a crucial role in the local economy. The plant was known for its modern facilities and large-scale production capabilities.
However, like many industrial sites, Tobin’s First Prize faced challenges over the years, including changes in the meatpacking industry and economic shifts. The plant eventually closed in the 1980s, and the property sat vacant for several decades, becoming a well-known eyesore in the community.
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