Downtown Albany bar space set to return as part of major apartment redevelopment project

Albany, New York – Downtown Albany is poised for another change as a long-vacant bar and restaurant space on North Pearl Street is set to return as part of a larger apartment redevelopment project.

J&J Investment Properties plans to convert two empty downtown office buildings into housing, bringing a combined 21 or 22 apartments to the area while also putting a long-dark commercial space back into use. The projects recently received a combined $1.375 million in state grants aimed at supporting development in Albany.

The larger of the two projects is planned for 84 N. Pearl St., a five-story building that has been largely unused for years. The property includes offices that have sat empty as well as a ground-floor bar and restaurant space. That commercial area has been vacant since Legends on Pearl closed in August 2015.

Under J&J’s plans, the building will be converted into 12 or 13 apartments, while the ground floor will once again serve as a bar-and-restaurant space. The project is expected to cost more than $3 million, with J&J receiving a $775,000 state grant toward the redevelopment.

The return of activity to the ground floor will bring new life to a space that has gone through several identities over the years. Before Legends on Pearl occupied the location, it had been home to Plastic, Mad River Bar & Grille and Fort Orange Cafe. The property sits between Viva Empanadas and the location planned for Norma’s, formerly known as Blue 82.

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Legends on Pearl closed after a difficult four-year run and surrendered its liquor license in 2015. The closing followed a series of problems associated with the bar, including an incident involving a box truck loaded with alcohol that crashed.

While the history of the space has been eventful, J&J’s plans point toward a new chapter for the property. Rather than leaving the ground floor unused while the upper floors are converted into apartments, the developers intend to bring another food-and-drink business into the downtown mix.

The second project is nearby at 5 Clinton Square, next to McGeary’s Pub. That five-story building is completely vacant and is expected to become a nine-apartment residential property. J&J received $600,000 in state funding toward the project, which is estimated to cost at least $2.4 million.

The ground floor at 5 Clinton Square has also had a series of food-related businesses over the years. Most recently, the space was occupied by Nocturnal Cookies. Before that came The Paper Dragon, which opened in 2019, followed by The French Press Cafe & Creperie, CoffeeTime@HellasBakery and Melville’s Mug.

Unlike the project at 84 N. Pearl St., however, J&J does not plan to keep the ground floor of 5 Clinton Square as a cafe or small restaurant. Justin Schmiemann, who owns J&J Investment Properties with business partner John “Jay” Corallo, said the partners believe there are already similar commercial spaces available downtown.

The decision reflects a different approach to the two buildings. At 84 N. Pearl, the existing bar-and-restaurant space can once again serve a commercial purpose, while at 5 Clinton Square the developers believe additional housing is a better use of the available space.

Schmiemann confirmed the plans Tuesday, following an earlier report by The Business Review. He said J&J expects to close on the properties within the next two months. Construction and conversion work will then move forward, with completion projected for late 2027 and early 2028.

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The projects are part of J&J Investment Properties’ broader presence in Albany. The company has redeveloped more than 50 residential properties in the city and owns about 40 buildings in the Pine Hills neighborhood, 13 in Center Square and two downtown, according to Schmiemann.

The company has also been involved in the revival of other Albany properties, including the Washington Tavern. Its latest plans continue that strategy by combining residential redevelopment with commercial activity where the partners believe it makes sense.

For downtown Albany, the projects represent another effort to put vacant buildings back into productive use. The conversion of unused offices into apartments will add housing, while the planned restaurant and bar space at 84 N. Pearl St. could bring renewed activity to a ground-floor location that has remained dark for more than a decade.

With the state funding now awarded and the real estate closings expected within months, the long-vacant properties are moving closer to a major transformation. If the current timeline holds, residents and visitors could see the results beginning in the next few years, with the projects expected to be completed between late 2027 and early 2028.