By LAUREN STANFORTH, Staff writer Wednesday, September 17, 2008
SCHENECTADY - A $5 million upscale 16-unit condo complex has been proposed for downtown - the first such housing project driven by the Schenectady County's Metroplex Development Authority.
The four-story building, which would have retail space on the first floor, would be located at Union and Barrett streets, a few blocks from Union College and the Stockade district.
The buildings currently there, from the Union Inn to Barrett Street, would be demolished. Metroplex Chairman Ray Gillen said the buildings are not historically significant, and the project has been given the green light by the city's historic commission. The construction will not impact the Costumer, which has a warehouse next to the proposed development.
Chris Myers, owner of the Parker Inn next to Proctors theater, is the developer and already owns the properties that would have to be demolished. Metroplex would provide a $500,000 loan and more money for a facade grant, although Gillen said the grant amount hasn't been worked out yet.
Gillen said there's a need for upscale housing downtown as more jobs are brought into the area with the Price Chopper headquarters construction on Nott Street and General Electric's expansion into wind power. The condos, which haven't been priced yet, are meant to appeal to young professionals and empty nesters. Retail on the ground floor could be geared toward college students as well, Gillen said. Parking would be provided for the condo owners behind the building.
If the city approves the project,construction could start by year's end.
Myers is also currently shepherding a 44-unit condo project in Glenville.
Metroplex would provide a $500,000 loan and more money for a facade grant, although Gillen said the grant amount hasn't been worked out yet.
COUGH COUGH COUGH! I think I'm gonna choke here. 'A facade grant'? I thought facade grants where given to a building that was being rehabed. This one is new construction.
AND I thought the plex was created to attract and create new businesses for more jobs in the area. Since when do we the taxpayer, pay for someone to put up condos? There will be NO return on this money of ours!
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
Well, after all those folks who 'overspent' are bailed out maybe we can apply for help too as we think we are over charged by National Grid and we can also apply for a grant to improve our 'facades'.......meanwhile the $$$ dries up.......anyone ready for squirrel hunting or have good recipies......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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