Developers plan $20 million investment at empty shopping plaza in Rotterdam
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Michael DeMasi
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The Business Review
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A development team has been picked to demolish the former Curry Road Plaza in Rotterdam, New York, and build a $20 million retail/office/senior housing project.
Forum Industries Inc. of Clifton Park and Whitney Capital Co. LLC of Lake Success on Long Island submitted the winning proposal to officials in Rotterdam and Schenectady County to redevelop the empty shopping plaza, an eyesore for many years.
The developers will demolish two buildings on the 12-acre site next year and replace them with two retail/office buildings totaling 6,500 square feet and two buildings totaling 120,000 square feet with 180 senior apartments, a gym, outdoor patio and other amenities.
The development team will pay the town $375,000 for the property.
“This will mean new jobs and investment in our community,” Town Supervisor Harry Buffardi said.
The town is expected to approve the project later this month.
Rotterdam worked with officials at the county and Schenectady Metroplex Development Authority over the past two years to prepare the site for demolition and redevelopment.
A request for proposals was issued in June, with no minimum bid price for the property.
Forum Industries develops and builds commercial and multi-family units upstate. The firm’s CEO and president, Andrew Sciocchetti, owns AJS Masonry Inc.
The principals of Whitney Capital Co., Garry Munson and Tom Granville, have developed and retained an interest in more than 5,000 multi-family units nationwide, according to town and county officials.
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