SCHENECTADY Vote moves Alco project forward Redevelopment to begin this summer BY MICHAEL LAMENDOLA Gazette Reporter
Redevelopment of the former American Locomotive Company property on Erie Boulevard is expected to begin this summer, part of a proposed $200 million rehabilitation of one of the oldest industrial sites in America. The Metroplex Development Authority Wednesday night paved the way for the work to begin by adopting a final generic environmental impact statement on the project. The document will serve as a blueprint in converting the 60-acre site, which contains blighted buildings of brick, iron and glass, into a site containing 500 one- to four-bed apartments along the river and 450,000 square feet of office space. There will also be space for research and development companies. When completed in about 10 years, the project is expected to create approximately 1,000 mixeduse office jobs and approximately 250 retail jobs. Metroplex Chairman Ray Gillen said that “the board’s approval of the impact statement is a critical milestone in the path forward. Nothing could be done until we accepted the statement,” which is mandated under the state Environmental Quality Review Act. The site, which sits between the Mohawk River and Erie Boulevard, is also known as the Nott Street Industrial Park. It’s one of several former Alco sites in Schenectady, two of which were redeveloped in recent years to contain the Golub headquarters and a Union College dormitory. ................>>>>...............>>>>.................http://www.dailygazette.net/De.....r01103&AppName=1
When completed in about 10 years, the project is expected to create approximately 1,000 mixeduse office jobs and approximately 250 retail jobs.
The project is to develop residential and commercial space. How does that equate to job creation? That is, how can they state that the space will be filled and, if it is, that it is not simply relocation of company operations from other areas of the county?
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A private sector investor, whom Gillen would not name, will contribute the remaining $9.4 million.
Ok, time to play "Three Guesses". Who wants to go first to name the unidentified investor? Why would Gillen refuse to identify the investor? If agreements have been signed, isn't that a matter of public record?
In my opinion, the transparency of Metroplex operations has decreased since the audit was performed by the NYS Comptroller's Office.
Metrograft has been making up job creation numbers since Day One. More "hot dog" jobs? Nobody cares-except the record number of County unemployed. The timing of this should fit well with the next State Senate mailer.
The last thing the City needs is more empty apartments which will kill the already hurting existing rental markets. At least they understand that no one wants a condo with these Democratic taxes. There is finally some positive news on the retail front. Will save for a rainy day.
A business that got a schmear-interest free loans, no taxes {phony low PILOT}, money for "facades", etc, etc. And we have 2 candidates for State Senate actually fighting over who did more to put this noose around our necks? Only in Schenectady County.
Benny when all the tax breaks expire and the free money dries up how will these companies stay in business or will they do just like other businesses have done move out of the state.
What person or business would move into the city of Schenectady with it's oppressive tax burden and unsightly vacant buildings and horrible roads.
What person or business?? The same 'select few'.....that's who!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Benny when all the tax breaks expire and the free money dries up how will these companies stay in business or will they do just like other businesses have done move out of the state.
Might as well line your pockets on the way out of S@#$sville? Did you hear the latest about the Chapter 11 potter that has moved into the County? Another 10 "hot dog" jobs to add to the Metrograft totals.
Funny how they never subtract any jobs that flee. The job creation numbers are totally made up and the MSM goes along for the ride.
SCHENECTADY -- A Schenectady-based development group has purchased a dilapidated industrial site on Erie Boulevard that the city is pushing to transform into a home for offices and homes.
The Galesi Group, doing business as Maxon Alco Holdings, paid $500,000 for the former American Locomotive site along the Mohawk River, according to a deed filed with the Schenectady County Clerk's office.
David Buicko, chief operating officer for the Galesi Group, today confirmed that Maxon is owned by Galesi and confirmed the purchase, but he was unavailable for further comment.
By CHRIS CHURCHILL, Business writer Last updated: 3:21 p.m., Monday, June 7, 2010
SCHENECTADY -- A Rotterdam-based development group has purchased a dilapidated industrial site on Erie Boulevard that the city is pushing to redevelop for offices and homes.
The Galesi Group, doing business as Maxon Alco Holdings, paid $500,000 for the former American Locomotive site along the Mohawk River, according to a deed filed with the Schenectady County Clerk's office.
David Buicko, chief operating officer for the Galesi Group, today confirmed that Maxon is owned by Galesi and confirmed the purchase, but he was unavailable for further comment.
Galesi purchased the 57 acres of so-called ALCO land from the Schenectady Industrial Corp., according to the deed.
Logged
Metrograft has been making up job creation numbers since Day One. More "hot dog" jobs? Nobody cares-except the record number of County unemployed. The timing of this should fit well with the next State Senate mailer.
