Stuyvesant Plaza waives rent on all retail tenants

A shopping center in Albany, New York, is giving its retail tenants a break during the COVID-19 outbreak.

Stuyvesant Plaza will waive rent payments for all retail and restaurant tenants for a two-week period effective Friday, March 20. This policy applies to the shopping center’s 60 retail tenants, including all small businesses and restaurants, regional and national companies.

“Our success as a shopping plaza, which dates back more than half a century, is predicated on the success of our tenants,” said Stuyvesant Plaza president Ed Swyer. “During this unprecedented time of crisis, it is our responsibility to do all that we can to support our retail and restaurant partners and provide them with some relief while we continue to work through these challenges together.” 
 
Since opening in 1959 with 18 tenants, Stuyvesant Plaza has grown more than threefold to become one of the area’s premier open-air lifestyle shopping center. The Plaza, which opened just 12 years after the nation’s first outdoor shopping center in Los Angeles, is currently home to nearly 60 shops and restaurants.