A New Future for the Former Tobin First Prize Site in the Capital Region

For decades, anyone driving past Exit 5 on I-90 could not miss Tobin First Prize. The old meatpacking plant was one of those places that felt like it had always been part of the Capital Region.

It opened in the 1920s, and for generations it was a major employer, a familiar landmark, and a reminder of the area’s industrial roots. Long after the plant closed in the 1980s, the buildings stayed put. They weathered, they emptied, and year after year they stood as a silent piece of local history.

According to the Albany Business Review, the property is finally moving into a new chapter. After nearly a century on the landscape and nine years after early redevelopment ideas were first floated, plans for the site have cleared their final hurdle. A mixed-use project is officially approved, and the space that was once a factory will eventually become a place to live, visit, and gather.

The first phase of the project includes apartments, a hotel, places to eat, and space that blends work and community. Construction crews could begin in the warmer months, although no one knows exactly how long the first round of building will take. The full plan covers several stages and will ultimately replace the long-abandoned factory footprint with new homes and activity.

Clearing a site that old and that large has not been easy. Demolition happened piece by piece, and even the smokestack came down only recently. But after years of planning and problem-solving between Albany and Colonie, the future of this well-known corner of the region is finally taking shape.