Hi Kristen,
Photo albums isn't something we have available, or are planning for anytime soon. You can do some of the same things with free-space profiles. For example, you could create a page for your grandmother's childhood home and collect photos there, even when some don't include your grandmother. I don't think "grandmother's childhood" would make an appropriate page, though, since that fits in a bio and the photos of her can be sorted by date.
Chris