New York Governor Announces 2 Adult-Use Dispensary Openings in Capital Region

ALBANY, N.Y., Dec. 8, 2023 – PRESS RELEASE – Gov. Kathy Hochul announced the opening of two adult-use cannabis dispensaries in the Capital Region—including the first in the region to be supported by the New York Cannabis Social Equity Investment Fund. The fund was created to provide opportunities for those impacted by the inequitable enforcement of cannabis laws.

“As the cannabis market expands, my administration is focused on protecting the health and safety of all New Yorkers, helping small businesses thrive, and building the most equitable adult-use cannabis industry in the nation,” Hochul said. “New York State is continuing to provide safe, legal products for consumers while we work to assist those targeted by the inequitable enforcement of cannabis laws in the past.”

In Troy, 420 Bliss opened Dec. 7 at 740 Hoosick St. 420 Bliss is owned by Al Attoh, Renee Lindo and Gregg Little, entrepreneurs with experience in the retail, real estate, construction and the music business, among others. Their goal is to create a stable, long-lasting business that offers a comfortable experience for their customers.

In Albany, Capital District Cannabis and Wellness, located at 997 Central Ave., opened Dec. 8. The dispensary is owned by Capital Region natives James Frese and Pasha Adams, longtime friends who bring to their enterprise diverse backgrounds in the restaurant industry, real estate, volunteering and more, as well as a strong commitment to community service.

Albany Mayor Kathy Sheehan said, “New York State's legalization of cannabis was a much-needed step to end the social and racial injustice of the criminalization of marijuana, and that is why the City of Albany has worked tirelessly over the past two years to prepare for the opening of our first cannabis dispensaries. Our Cannabis Advisory Committee helped solicit feedback, inform, and shape cannabis regulations at the municipal level including the time, place and manner of adult-use retail dispensaries and on-site consumption licenses, public education, and protection of community health and safety through the lens of social and racial equity.

“I look forward to seeing how our advisory committee's work helps positively impact our new dispensaries and our entire community. Thank you to Governor Hochul for executing on the framework to legalize cannabis and create opportunities for small business owners across New York State.”

Albany Common Council Member Hyde Clarke said, "I am so thrilled to share in the announcement of the newest entrant in New York's exciting retail cannabis space, and honored to welcome Capital District Cannabis and Wellness Inc. to the 12th Ward. This installation is a step forward to permitting the safe and legal sale of cannabis to the City of Albany at a time when we see far too many of those sales going on outside of our city and outside of New York State. Thank you to the owners and the State of New York for selecting Central Avenue for this new opportunity. We need to welcome and work with new businesses who invest in our city, and this investment is an important addition to our business corridor.”

New York State Cannabis Control Board Chair Tremaine Wright said, “We are thrilled to see the first adult-use cannabis dispensaries supported by the New York Cannabis Social Equity Investment Fund open in the Capital Region. These businesses embody the principles of social equity which drive the MRTA. The fund's investment has empowered entrepreneurs to build sustainable businesses that contribute to their communities. This pioneering initiative sets a precedent for the nation, and demonstrates New York's commitment to fostering a diverse and inclusive adult-use cannabis industry."

420 Bliss Co-Owner Al Attoh said, “If it hadn’t been for the fund, we would have likely had to take on equity partners and give up part of the business. The fund gave us the opportunity to build a business that we can own, one that will last for many years to come.”

Capital District Cannabis and Wellness Co-Owners James Frese and Pasha Adams said, “It means so much for us to have not just the opportunity to start a new business in our hometown, but to have the support from the state and the community. The New York Cannabis Social Equity Fund, DASNY, the Office of Cannabis Management, and of course the governor all played such a huge role in helping make this store a reality. We couldn’t have done this without all of them.”

Fund General Partner Social Equity Impact Ventures Principal Chris Webber said, "The New York Cannabis Social Equity Fund is proud to work with Capital District Cannabis and Wellness owners Pasha Adams and James Frese, who we know will be a positive force in the capital region community and will help further the goals of the Social Equity Fund to empower entrepreneurs. We stand with Governor Hochul, the New York State Legislature, and all stakeholders in working to dismantle the impacts of unjust drug enforcement policies that disproportionately impacted minority communities. We are grateful to the support of Mayor Sheehan and our partners at DASNY, the Chicago Atlantic Group, the Office of Cannabis Management, and the entrepreneurs who are at the forefront of this movement.”

The New York State Cannabis Social Equity Investment Fund, which was authorized as part of the FY 2023 enacted budget, is a public-private limited partnership formed to position social equity entrepreneurs to succeed in New York's newly created adult-use cannabis industry. This initiative has allowed the state to invest in a private fund to finance the leasing and equipping of conditional adult-use retail dispensaries throughout New York State for operation by individuals who have been impacted by the inequitable enforcement of cannabis laws. It is the first of its kind in the nation.

The fund will help those who have been awarded a CAURD license by the state’s Office of Cannabis Management meet the costs of establishing adult-use cannabis dispensaries, including the identification and leasing of suitable retail locations and design, construction, and fit-out of the spaces. It is supported by up to $50 million in licensing fees and revenue from the adult-use cannabis industry, as well as up to $150 million secured from the private sector.

The dispensaries opening in Albany and Troy are among several dispensaries that will be opening statewide in December. In the Capital Region, dispensaries are operating in Schenectady and in Rensselaer.