Now in its sixth year, Governor Cuomo’s Downtown Revitalization Initiative (DRI), is transforming downtown neighborhoods into vibrant communities where the next generation of New Yorkers will want to live, work and raise families. Participating communities are nominated by the state’s ten Regional Economic Development Councils (REDCs) based on the downtown’s potential for transformation, and each community is awarded $10 million to develop a downtown strategic investment plan and implement key catalytic projects that advance the community’s vision for revitalization.
The City of Amsterdam was selected in 2018 to receive $10 million in funding as the Mohawk Valley winner of the third round of New York State’s Downtown Revitalization Initiative (DRI). The DRI is an innovative and comprehensive approach to the revitalization of downtowns that aims to fund priority projects that will transform downtowns into vibrant communities and improve the vitality of urban centers across New York State. The New York State’s Regional Economic Development Councils (REDCs) nominated 10 DRI communities after evaluating each downtown’s potential for significant transformation. The DRI is chaired by New York Secretary of State, along with a specialized team of planners from the Department of State and the private sector, with support from the Empire State Development, the Division of Homes and Community Renewal, and other state agencies.
The DRI award will allow Amsterdam to capitalize on its concentrated footprint that provides walkability, a desirable location on the north and south of the Mohawk River and historic Erie Canal, diverse amenities, and beautiful setting to transform the area into an attractive downtown core that supports growth in community events, business, and year-round recreational activity. With a range of mixed-use residential and commercial spaces, established businesses, and many recreational amenities, the area is poised to attract additional investment to its developable land and available building stock.