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Officials see progress on St. James Square
BY STEVEN COOK Gazette Reporter

Both parts of the long-ailing St. James Square are expected soon to be under the same owner, officials said Tuesday.
Westchester County-based Realty Equities Management, which bought the first phase of the square two years ago, is nearing a deal to purchase the second phase, the real estate broker doing the deal told town officials.
    “We are now approaching the continuity of having one entity that controls the entire property and we can move forward in a focused manner,” Peter Struzzi, principal for Pyramid Brokerage Company, said.
    Realty Equities Management, owned by Paul Foley, owns the old Grand Union supermarket space west. The part being sold is east of the old Grand Union.
    Struzzi made the comments at a public hearing before the Niskayuna Town Board on the expansion of the Metroplex Development Authority area to include the square.
    Metroplex help has been vital to efforts to get the property new tenants, Struzzi said.
    “We need to have Metroplex involved here to make this project work and turn it into the gem that I believe it is,” Struzzi said.
    Metroplex Chairman Ray Gillen said the property has been shown to several prospective tenants in recent weeks, including as late as Tuesday afternoon. They have included technology and medical companies, as well as retailers.
    There are some businesses in the square now, but the anchor store was lost in 2001 and was never replaced.
    Gillen expressed confi dence that the new owner Foley will get the job done.
    “He’s aggressive, he owns many properties like this,” Gillen said. “It’s a well-financed company.”
    The property east of Grand Union made it to market a year ago after emerging from bankruptcy proceedings with a new owner, Midwest Financial, of Rochester.
    Struzzi said he sees St. James Square becoming a suburban office complex with a minor retail component. Schenectady County, he said, has little such space.
    “We’re going to see a lot of good things happen,” Struzzi said. “

We need to start seeing a lot more development for our tax payer money invested thru Metroplex or it has to be dissolved as a bad idea.

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Quoted from Shadow:
We need to start seeing a lot more development for our tax payer money invested thru Metroplex or it has to be dissolved as a bad idea.

We need to start seeing more return on investment (ROI) of public revenues being spent by Metroplex.  Increased development only suggests that the revenues being spent and the debt being incurred has likely increased.

I agree. And I also believe that there should be NO MORE SPENDING until we start seeing a return on our investment.

And why is the Metroplex involve with St. James Square? No one is really showing an interest in St. James Square. From owner to owner it hasn't shown any progress. Yet the 'Plex' continues to throw money at it. The 'Plex' just seems to be beating a dead horse.

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Gillen expressed confi dence that the new owner Foley will get the job done.
    “He’s aggressive, he owns many properties like this,” Gillen said. “It’s a well-financed company.”

It doesn't really matter how aggessive one is....this isn't one of those 'build it and they will come'...cause they frequently don't!

Imagine, investing in St. James Plaza is part of getting to second base.  Good thing.  How many people, without reading the would know that we had a St. James Plaza in the county, much less where in the county it was? (I still challenge people to tell me where it is...yes, I know, but do they???) And how much of the "Big House" money could have already gone there?  Is this the first time that Ray Gillen finally turned around and gave some of Susan Savage's constituents part of the Metroplex pie?

Quoted from Kevin March

Is this the first time that Ray Gillen finally turned around and gave some of Susan Savage's constituents part of the Metroplex pie?

Perhaps. But let's face it, Nisky is in pretty good shape. They  have Mohawk Commons and Knolls. The average income is probably  higher than any of the other surrounding counties. (although I don't have the stats on that)

But putting that all aside, we clearly do not need anymore Metroplex money being spent. After 10 years, we are still in debt with no return on our investment. Gillen and the gang are just throwing money all over the place and obviously WITHOUT an educated, economical plan.

And I know where it is cause I use to go to the Chinese Buffet there a long time ago.