The acquisition of the 240,000 square-foot outdoor retail destination will mark
WS Development’s second property in New York
Albany, NY – Today, Massachusetts-based, mixed-use developer, WS Development alongside legacy owner, Stuyvesant Plaza, Inc., announce a partnership on the future of Stuyvesant Plaza in Albany, New York. The 240,000 square-foot shopping plaza at the base of the Adirondack Northway currently hosts more than 60 locally-owned shops and national brands alike, providing the community with a variety of compelling retail, service and dining options.
Stuyvesant Plaza, Inc., has owned Stuyvesant Plaza since its opening in 1959. WS Development, known for its purposeful curation of retail, emphasis on activation and placemaking, appreciation of design, and commitment to local community engagement, will look to create new and unique opportunities for customers to engage with Stuyvesant Plaza, building upon its rich history and local flavor.
“We’re excited to be expanding our footprint to the Capital Region of New York State and, even more so, to be partnering with Ed Swyer and his team on this beloved property,” said Jeremy Sclar, Founder and Chief Executive Officer at WS Development. “We look forward to working closely with them, drawing on their deep, historical ties to Stuyvesant Plaza, as we build upon its current success to help shape its next chapter.”
With expertise in developing welcoming and dynamic neighborhoods and retail destinations across the country, WS will prioritize infusing the Stuyvesant Plaza experience with discovery, quality and fun in the coming months and years, while maintaining the local-first character of the plaza.
“We are greatly looking forward to this joint venture with WS Development which will assume management, operation and majority ownership of Stuyvesant Plaza. WS Development will elevate Stuyvesant Plaza to the next level with an array of first-class retailers, marketing and customer services while continuing to feature a mix of local, independent and national brands,” said Ed Swyer, President of Stuyvesant Plaza, Inc. “We have visited their impressive developments and engaged in discussions over a span of seven years. I could not imagine a better organization to lead us into the future.”
Stuyvesant Plaza, Inc., will retain ownership and management of Executive Park, the office park adjacent to Stuyvesant Plaza.
Stuyvesant Plaza will join WS Development’s portfolio of over 100 mixed-use properties across the U.S. Other noteworthy WS destinations include: historic retail haven Hyde Park Village in Tampa, FL; the recent redevelopment of The Royal Poinciana Plaza in Palm Beach, Florida; main street-inspired MarketStreet Lynnfield in Massachusetts, and longtime family-owned property Montgomery Village in Sonoma County, California. For more information on WS Development projects, please visit https://www.wsdevelopment.com/.
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About WS Development
Massachusetts-based WS Development is a mixed-use developer with a singular mission: creating places people want to be. With an approach that values art, science, innovation and, above all else, people, WS strives to engage each community it serves with best-in-class installations and activations. Established in 1990, WS is a vertically-integrated company that conceptualizes, owns, operates and leases more than 100 properties that range from cutting-edge urban spaces to lifestyle and community centers. With over 20 million square feet of existing space and an additional five million square feet under development, it is one of the largest privately-owned development firms in the country. For more information, visit www.wsdevelopment.com, call 617.232.8900 or follow WS Development on LinkedIn.
About Stuyvesant Plaza, Inc.
Since opening in 1959 with 18 tenants, Stuyvesant Plaza has grown to become the Capital Region’s premier outdoor lifestyle shopping center and professional office park. Stuyvesant Plaza, which opened just 12 years after the nation’s first outdoor shopping center in Los Angeles, is currently home to more than 60 shops and restaurants. For more information, visit StuyvesantPlaza.com.