Inside the plans for a $2.8B tech campus and data center at Kenwood
A real estate developer is proposing a $2.8 billion mixed-use technology campus and data center on the former Kenwood Academy property in Albany, NY. The project includes a 500,000-square-foot data center along with research labs, offices, and residential units. Developers are presenting plans to local leaders, emphasizing minimal environmental impact and significant economic benefits.
Real estate developer Michael-Henry Elghanian-Krayem, owner of the 76-acre Kenwood Academy property in Albany through his company Guild Ventures, is proposing a $2.8 billion mixed-use technology campus. The plan, developed by EKG Group, is anchored by a 500,000-square-foot data center and would also include research labs, offices, "clean" tech manufacturing facilities, and nearly 300 apartment units with ground-floor retail.
This proposal follows several rejected ideas for the site, including market-rate and affordable housing, and an Amazon-style warehouse. Elghanian-Krayem and his team are presenting the current plans to local leaders, claiming the project will result in $190 million in state and local tax revenues over 10 years and support thousands of construction jobs, with 500 full-time jobs once operational.
The developers assert that the data center would be fully supported by the existing power grid, use minimal water with a closed-loop system, and have no impact on air quality. They are also working with former state Department of Environmental Conservation Commissioner Basil Seggos to address environmental considerations, particularly given the site's proximity to an environmental justice zone in Albany’s South End.