Schenectady, N.Y., June 23, 2016 – The Board of Directors of the Metroplex Development Authority met last evening and approved eight projects that will continue to help spur new investment in Schenectady County.
The first project is an upgrade to the façade on two buildings on lower Union Street. Both 410 and 412 Union will be renovated creating five new residential units above ground floor retail space. Both buildings are now empty but are located in a busy area that is seeing rapid redevelopment. The City of Schenectady recently sold 508 and 708 Union Street and both buildings will be renovated. There are a large number of restaurants and new apartments in this area which is often referred to as restaurant row in downtown.
Ray Gillen, Metroplex Chair said, “We are pleased to help renovate these two buildings in the Union Street Historic District. This is a fast growing corridor downtown and these are two buildings that we hope will bounce back with major renovations and new façades.”
The Board approved a $635,350 bid from Callanan Industries, Inc. to repave, stripe and install new crosswalks on the Proctors Block in downtown Schenectady from Broadway to Nott Terrace. In addition, Broadway and Clinton Street which connect to State Street will also be repaved. New thermoplastic sidewalks tested successfully at the rear entrance of Proctors will be installed after paving is completed as the crosswalks in this part of downtown are very heavily used.
Gillen added, “This project will give the Proctors Block a fresh new look just with all new pavement, striping and crosswalks. Our goal is to really make the downtown shine by making these upgrades.”
Additional improvements at the New York BizLab also received Board approval. The BizLab is located at 251 State Street. The building already houses four tech companies and additional leases with more tech companies are pending. The owner of the BizLab, Civco Realty Corporation, is investing an additional $600,000 to renovate 8,000 square feet on the third floor of the building to house more tenants as several leases are pending. Metroplex will commit $60,000 to the renovation project. Civco Realty is owned by Transfinder CEO Antonio Civitella.
Gillen said, “The BizLab is a major win for downtown and we are excited to open up the third floor of this building for new tenants. In total, over $2 million has already been invested and the building is filling up with tech companies.”
In other action, Metroplex gave final approval to the following projects:
For more information, see www.schenectadymetroplex.org.