Kenwood developer says data center plans could go to city within 2 months
Guild Ventures plans to submit applications within two months for a $570 million data center and tech campus project on the former Kenwood Convent site in Albany, NY. The project faces zoning challenges and expected public scrutiny over environmental and utility impacts. A proposed statewide bill, the Responsible Data Center Development Act, could also impact the project's permitting and costs.
Guild Ventures, led by Michael-Henry Elghanian-Krayem, intends to submit formal plans to the City of Albany within 60 days for a $570 million data center and technology campus on the former Kenwood Convent site. The 76-acre property, which Guild Ventures acquired in 2023, is currently not zoned for a data center, meaning the developer will seek zoning and site plan approvals.
The proposed development, dubbed Kenwood Commons Edge, is envisioned as the region's first "purpose-built" technology campus, anchored by a 500,000-square-foot edge data center requiring up to 100 megawatts of power. The total investment could reach $2 billion, with the initial phase estimated at $570 million. Elghanian-Krayem hopes to secure government approvals by the end of 2024 and begin construction in 2027.
The project is expected to encounter significant public and official scrutiny due to environmental concerns, particularly regarding its substantial electricity and water demands. Meanwhile, a recently passed state bill, the Responsible Data Center Development Act, awaits Governor Kathy Hochul's signature. If signed, the legislation would impose a one-year moratorium on state environmental permits for data centers, require public hearings for all data center projects, and mandate new electric and water rate classifications to ensure developers bear infrastructure costs. The governor is currently reviewing the bill.