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SCHENECTADY
Buildings to be razed for upscale housing project
Apartments planned at Union, Barrett streets
BY MICHAEL LAMENDOLA Gazette Reporter
Reach Gazette reporter Michael Lamendola at 395-3114 or lamend@dailygazette.com.

    A private developer this summer will demolish several buildings along Union and Barrett streets to make way for the construction over the next two years of 22 upscale apartments.
    Metroplex Development Authority Chairman Ray Gillen called the $3.2 million project the next key step toward downtown’s revitalization.
    Developer Chris Myers said he plans to begin demolishing buildings at 527 Union St. and 1007 Barrett St. by the end of summer. He then will begin phase one along Barrett Street of his proposed “Lofts at Union Square” project.
    Phase one involves construction of eight two-story row houses. Each row house will contain 1,300 square feet and an enclosed garage accessible to a single car. Construction will begin in early October, Myers said.
    Phase two, to occur next year, involves construction of a 14-unit apartment along Union Street between the Union Inn and Barrett Street. The three-story building will contain studios, one-bedroom and two-bedroom apartments. It also will have 3,000 square feet of retail space on the ground fl oor.
    Myers said his market research indicates a need for this type of housing for “young professionals and empty nesters.” He said competing apartment communities in Niskayuna and Glenville “are fi lled and have waiting lists.” He added that downtown “needs it as well.”
    The Metroplex Development Authority is providing a $150,000 grant to cover demolition costs. Myers said the grant should be sufficient. Metroplex also will provide a $200,000 loan for 15 years at 5 percent interest as construction and permanent fi nancing for the project. Myers is using private financing for the remainder of the project. .................>>>>............................>>>>...................http://www.dailygazette.net/De.....r01803&AppName=1

This was supposed to be a condo project. Now luxury apartments? There are reasons why luxury apartments in Niskayuna have waiting lists and any Downtown do not.

That area is booming with growth and the old crappy buildings need to be removed to make room.  What luxury apartments are there downtown now?

LMAO, can you say another let down. What is the occupancy of apartments in the city? Metroplex should shift their focus to the neighborhoods. This is a shortsighted move by Gillen, he is just covering his a** because he said three years ago "we are done with restaurants" now we must move on to retail and residential. Stay tuned....