GLENVILLE One company is betting luxury apartments are a needed commodity in Glenville, but their vision goes beyond multi-family housing.
The Glenville Environmental Commission got a first look at a project proposed by New York Development Group, based out of Clifton Park, which would include building 13 luxury apartment buildings with 12 units per building to totaling 156 units. The apartments would be located adjacent to the northwest portion of the Schenectady County Airport and total 12 acres. The total site is 40 acres, which the company is looking to add commercial development to the location. Initial estimates on the total investment after the 40 acres is developed is between $80 to $100 million.
“Glenville is an underserved market and we see a need in Glenville for this type of product,” said Geoffrey Booth of New York Development Group. “With all the business being added to GE especially, but just in general people are looking for nicer accommodations.
Currently, there is only a conceptual site plan for the project, said Booth, but he didn’t want to reveal too many details. The idea for the apartments came up several years ago, he said, but when the economy faltered it was halted.
“We had this idea that we wanted to do this project and certainly the economy has presented challenges to moving forward with a project this large,” Booth said.
He said once the company is looked to get the OK from the town, so construction can begin as soon as possible.
The units, he stressed, don’t fit the traditional idea of what people think of when they hear the phrase “apartment complex.” There would be garages on site and the residences would be built with more than one bedroom to suit families.
Supervisor Christopher Koetzle said it is an “exciting” project for the town and it serves as an example of economic development in the town.
“It is going to be an important piece of our town center master plan,” said Koetzle. “Long term we see a positive trend in new property tax revenue through this development.”
Koetzl also noted the projected had taken some time to get rolling, but he was glad to see it starting to be realized.
“It has been a long time in the making and the economy certainly had an impact on the planning,” he said. “The quicker this project gets going the quicker other projects can start.”