Capital Region Land Bank Approves Four Projects in Schenectady

SCHENECTADY, N.Y. — The Capital Region Land Bank met last evening and approved four projects in the City of Schenectady.

“We are pleased to move forward with four more blight removing projects that will boost neighborhoods and continue the positive momentum we are seeing across the city of Schenectady,” said Richard Ruzzo, Chair of the Capital Region Land Bank and a member of the Schenectady County Legislature.

Mayor Gary McCarthy said, “The City is working closely with our partners at the Land Bank to bring significant new investments to Schenectady and we thank them for approving these four projects that will keep the progress going in our neighborhoods.”

The new projects will demolish ten buildings and prep two other buildings for renovation.

2 Landon Terrace, one of the worst zombie properties in the city will be demolished.

“After lengthy negotiations with Metroplex, the owner finally agreed to donate this property to the Land Bank and we thank her for doing that,” said Ruzzo. “We will demolish this horribly blighted structure that is located at the gateway to Eastern Avenue, on the route to miSci, and a block from the recently renovated Jaylen’s Park.”

On Summit Avenue, the Land Bank is funding the demolition of nine blighted buildings to make way for a $13 million investment by MLB Construction and AIK Property Group. The MLB/AIK development team will build 41 owner-occupied townhomes on Summit Avenue.  NYS Homes and Community Renewal is providing funding toward the demolition costs to make way for new quality home ownership opportunities for city residents.

At 902 Crane Street, the Land Bank approved a $54,000 bid award to Sullivan Contracting, the lowest of four bidders.  The contractor will abate asbestos in the building, prepping it for a new façade and building renovations in a key location on the Crane Street corridor where the new $24 million Mosaic development is currently under construction.

At 313 Schenectady Street, the Land Bank approved purchase of the property for future renovation.  The vacant structure is located very close to a large development project that is moving forward on Albany Street including the former Mohawk Auto Center site.

Metroplex administers the Land Bank as part of Schenectady County’s unified economic development team.