The building's owner says it could be reduced to rubble within a year

As the hulking concrete structure continues to hover over downtown Albany, albeit now covered by safety netting, the owner of the Central Warehouse hopes the building will be gone in a year. 

More netting going up at at the Central Warehouse in Albany, Minority members of the county legislature are calling for the demolition in a letter to state and federal leaders. More tonight at 5/6 @CBS6Albany pic.twitter.com/vytg3iBKBI

— Emma Quinn (@emmaquinnCBS6) January 4, 2024

Jeff Buell, who's firm Redburn Development took over the building in 2023, told CBS 6's Power and Politics the Central Warehouse could be gone within a year, pending approval of a state grant to tear it down.

So, I'm happy to report to you first, that yesterday we submitted our grant application to the State of New York for demolition funding. We hope to hear later this summer whether the application is successful, and if so, this time next year the building will be down.  

Buell originally had high hopes for the building, with the intention of fixing it up and transforming it into a mixed use facility that would include residential and retail space. However the economy, interest rates and structural issues make it next to impossible to facilitate any potential rehab of the building. 

If the grant is approved, which could happen this summer, Redburn plans on demolishing the concrete behemoth and turning the property back to Albany County.