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Schenectady, N.Y. — Live-In Schenectady, a group of private investors committed to investing in new housing in Schenectady, today announced that its first 15 homes have been completed and sold. The innovative housing partnership plans to begin construction of 14 more homes this summer.
“We just sold the model home so all 15 homes we built are now completed and sold,” said John Roth, one of the Live-In Schenectady partners and CEO of Highbridge Development, a commercial builder and development company. “We will now take the proceeds from Phase I and get started on building more homes.”
The first 15 homes were built on vacant lots on Barrett Street that the consortium purchased from the City of Schenectady.
“On behalf of all of the Live-In team, we are proud of these new homes and the investment we have made as a group to promote home ownership in Schenectady,” said David Buicko, a Live-In investor and CEO of the Galesi Group.
“Our Live-In Schenectady investment group is proud to have transformed vacant lots into new homes and we plan to keep moving forward,” said Jim Connolly, an investor in Live-In Schenectady and former CEO at Ellis Hospital.
Gary Hughes, Chair of the Schenectady County Legislature said, “We thank Live-In Schenectady investors for this innovative approach to building more housing that we hope is a model that other communities can follow.”
Mayor Gary McCarthy said, “Schenectady is growing, and we need new housing. Live-In Schenectady is meeting the need for new owner-occupied housing, and we are pleased that they will keep building new homes going forward.”
To obtain more information about Live-In Schenectady new homes contact Mary D’Alessandro-Gilmore at (518) 334-3687 or Joseph Farry at (518) 669-4788. Both are realtors with Berkshire Hathaway HomeServices Blake Realtors.
Schenectady County ranked as the 4th fastest growing county in New York State last year and its gross domestic product, a key economic indicator, grew at the fastest rate of any county in New York State.
To meet the demand for new housing, Metroplex, the county’s lead economic development agency, has supported the construction of new housing working with partners including Live-In Schenectady, Better Community Neighborhoods Inc. and many private developers.
In a few months, new housing will become available at Elmer Gardens, the former Elmer Avenue School, which is being converted to senior housing, and at the Mosaic development which is bringing new residential development to Mont Pleasant. In addition, 41 new townhomes are under construction on Summit Avenue in Hamilton Hill. This summer, 54 new senior apartments will come on-line at Rivers Ledge Phase 2 in Niskayuna.
In recent years, Metroplex has been supportive of the construction of more than 3,000 new housing units in Schenectady County.
A list of Live-In Schenectady investors follows:
Advanced Ventures, LLC – Competitive Advantage Group
Barrett Street Village LLC – Neil and Jane Golub
Capital Region Gaming, LLC – Rivers Casino & Resort
Civco Live-In Schenectady, LLC – Transfinder
Curtis Lumber Co. Inc. – Jay S. Curtis
The Daily Gazette Co.
DRL Schenectady Housing, LLC – BBL Construction Services
Friend of the Community, LLC – Jim Connolly
Galesi Management Corporation
HB Housing Group, LLC – Highbridge Development Group
Jackson Demolition Service, Inc. – Sandy Jackson
James T. Pollard Architect, P.C./DBA: Re4orm Architecture
LeChase Construction Service, Inc.
NBT Bancorp, Inc.
Northeastern Fine Jewelry – Raymond A. Bleser
Precision Industrial Maintenance, Inc. – Todd Kilburn
Saratoga National Bank
Schenectady Hardware and Electric – Christopher Spraragen
A list of participating banks follows:
Ballston Spa National Bank
Berkshire Bank
Capital Bank
Kinderhook Bank
NBT Bank
Pioneer Bank
Saratoga National Bank