Every year we get a State of the Union Address and now we're getting a State of Downtown Albany update.
In 2013, three businesses closed while four opened.
Aaron Blair, the Manager of Downtown Albany, says around this time next year, the number of opening businesses will have grown.
One place set to receive a boost in business is the 200 block of Broad Avenue.
"They're going to look at master planning the whole block in potential of bringing a hotel while expanding convention space and the Waffle House was just one of projects the within the block that they're trying to start with right away," said Aaron Blair.
Just around the corner another business is about to open.
"A lady's bringing a clothing store and she signed the lease within four hours and has it secured for a year," said Steve Brimberry, Property Owner.
In 2013, the city spent 650,000 dollars on projects while the private sector spent over 1 million.
Blair say what downtown Albany needs is more residents and to have more residents you need more residential space. That's the plan for the future.
"You can do special events. Yeah they're going to bring people down for one time but that's not going to sustain you. You have to create a neighborhood," said Blair.
The downtown manager estimates once the Broad Avenue Bridge reopens the increase in traffic flow will also help boost business in downtown Albany.