Development expected to bring 200 jobs to area
The desolate former Kmart Plaza in Glenville is expected to see some activity in the future.
During Schenectady County Metroplex Development Authority's meeting on Wednesday, Oct. 20, the board passed a resolution to begin the State Environmental Quality Review Act process for the site. Metroplex will coordinate reviews of the project with state, county and town agencies. The former buildings on the site will likely be torn down during redevelopment.
The owner of the property, an affiliate RD Management LLC, has signed a letter of agreement with a major national retailer to build a new store at the location near the corner of Route 50 and Glenridge Road. RD Management is estimating 200 jobs would be created through the major retailer.
"It's an eyesore now, and it will replace a vacant eyesore with a project that will create new jobs, new sales tax revenue and new property tax revenue," said Ray Gillen, chairman of Metroplex. "Glenville is a very strong town this is really the blighted site in the town that needed to be cleaned up."
The plan involves a $17 million investment for a major retailer totaling 134,000 square feet. There will also be a smaller building of 30,000 square feet attached to the building and a "pad site" for future retail development as part of the investment. The smaller building is planned to hold other shops and retail outlets.
"They are very confident they can fill that space, otherwise they wouldn't be investing in it," said Joe McQueen, spokesman for the county of the developer's plans.
The plaza has been vacant since August 2006 and the total size of the site is 13.2 acres. The owner of the property plans to close on the sale of the property with the retailer in the summer of 2011. RD Management would retain ownership of the smaller 30,000 square foot building. Once approvals are granted, the hope is to begin construction in the fall of 2011, with new retailer opening its doors in 2012.