Almost $100 Million in Redevelopment Now Underway in Downtown Schenectady
Schenectady, N.Y., August 21, 2018 — The Schenectady County Metroplex Development Authority today announced that a long vacant building at 116 Jay Street will be renovated adding to the almost $100 million in redevelopment work now underway in downtown Schenectady.
Mr. Noah Smith of CPR Properties based in Ridgewood, NY has purchased the building and will renovate it. Mr. Smith recently completed a major renovation of 118 Jay Street, the Seneca Block Building, turning the vacant structure into 16 apartments with two ground floor retail stores. The apartments and retail space are 100% occupied. The new Jay Street Pub will occupy one retail space. A nail salon will open next door following fit-up of the space. CPR Properties has successfully renovated buildings in New York, Pennsylvania and Ohio.
Mr. Smith said, “We are very proud of the historic preservation of 118 Jay Street and we want to continue the comeback of the downtown area by renovating the building next door. We hope this project adds to the redevelopment momentum in Downtown Schenectady.”
Metroplex will provide a $50,000 façade renovation grant.
Ray Gillen, Metroplex Chair said, “The building 116 Jay Street was owned by an absentee landlord who did nothing with the property. It has been vacant for more than a decade. We are very excited to have Noah Smith buy this building and help to bring it back to life.”
Across downtown Schenectady almost $100 million in development activity is underway including renovation work underway at the former Labor Temple at 105 Clinton Street, the former Ter Bush and Powell building at 144 Clinton Street and the former Schaffer Center at 101 Nott Terrace. New construction is underway at the Electric City Apartments, the Mill Artisan District, the new Amtrak station, a new office building at 388 Broadway and new townhomes at Mohawk Harbor.
Metroplex will mark the completion of Gateway Plaza, a new park downtown this Thursday, August 23rd at 11:30 am.