Former Albany, N.Y., hotel to become a Renaissance after $48.5M renovation

As the Times Union reports, Columbia Development Companies has announced plans for a $48.5-million renovation of the former DeWitt Clinton Hotel in Albany, N.Y., into a Renaissance, a move that could help the city attract NCAA playoffs and make a scaled-down convention center more viable. The project is expected to be completed in 2015.

The newly renovated 385-room Hilton Albany was unveiled in May.

"It will help us with our NCAA bids," Bob Belber, general manager of Times Union Center, told the Times Union.

The former DeWitt Clinton hotel is a 15-story building that opened in 1928 and closed in 1975.

Columbia acquired the building from Bronx-based diamond merchant Chaim Ausch.

The deal is expected to close in the next eight weeks and work is expected to begin in early fall on the newly named Renaissance Hotel Albany. The $48.5-million price tag includes the acquisition price as well as construction.

Suggested Articles

The hotel will be a conversion of the former Al Areen Palace & Spa.

Pebblebrook Hotel Trust will convert the Paradise Point Resort & Spa to the Margaritaville Island Resort San Diego after a $35 million renovation.

Blue Flag Partners is investing $100 million to fund Life House's expansion via hotel acquisitions. Life House CEO Rami Zeidan tells HM what's on the…