Lower Nott Street to Receive Boost As a Result of Historic Preservation Project
Schenectady, N.Y., June 22, 2016 — The Schenectady County Metroplex Development Authority today joined with the Capital Region Land Bank and the Galesi Group to announce plans for a $3.2 million historic renovation of the former Department of Social Services Building at 487 Nott Street in Schenectady.
Richard Ruzzo, Chairman of the Capital Region Land Bank and a member of the Schenectady County Legislature said, “The renovation of this key building on Nott Street will boost the Northside of Schenectady and lower Nott Street. It will also provide quality affordable housing helping the Land Bank achieve its goal of making Schenectady neighborhoods a great place for people to live. These will be high quality apartments that Schenectady will be proud of in a historic building that we helped to preserve with Land Bank funding.”
David Buicko, CEO of the Galesi Group said, “The former Nott School is located in a neighborhood that has so much potential. Major employers including Price Chopper’s headquarters, Ellis Hospital, Union College and Mohawk Harbor are just blocks away. We believe that the demand for apartments in this area will be very strong for people who want to consider walk to work options. We also like the location right on the bike/hike trail. We look forward to working with the Land Bank and Metroplex to breathe new life into this historic building.”
The building will be renovated saving the former Nott School that dates back to 1877 with an addition added to the building in 1909. The Nott School was the fifth public school built in the City of Schenectady. The school closed in 1942 and the building was turned over to Schenectady County where it was used as offices during World War II by a local group charged with war-time rationing and price administration. After the war, the County used the building to house the Department of Social Services.
The Galesi Group will renovate the building to create 15 new apartments. The renovation includes new HVAC, electrical and mechanical systems, sprinkler system and windows. The roof will also be replaced. The building’s façade will be improved and the façade will feature more of a school house look restoring the look of the original structure. The parking lot and sidewalks will also be improved.
The Capital Region Land Bank will provide a $300,000 grant toward building renovation costs. Metroplex will provide a $100,000 façade grant. The Galesi Group will invest $2.8 million.
The Capital Region Land Bank received a $3 million grant from Attorney General Eric Schneiderman to help provide quality, affordable housing units and to demolish buildings that are beyond preservation. The Land Bank funding requires income limits for the 15 renovated housing units to be created by this project aimed at working adults and families with income levels of $69,600 for a one person household, $79,400 for two persons, $89,400 for three persons and $99,200 for four persons.
Ray Gillen, Metroplex Chair said, “We thank the Galesi Group and the Land Bank for working with us to save another historic building while we create additional momentum on lower Nott Street.”
The Capital Region Land Bank Board met last night and approved the project. The Metroplex board will act in August. Construction will begin this fall after consideration of the project by the City Planning Commission.