GLENVILLE Schenectady County officials on Wednesday, Feb. 29, announced plans for a new $7.3 million senior complex to be built in Glenville.
The new facility, Glenwyck Manor, would be located at the corner of Dutch Meadows Lane and Route 50 and hold 104 units restricted to people 62 years and older. One- and two-bedroom units are planned for the facility, which would also have community center featuring an indoor pool. The first phase would be a $7.3 million investment, but a proposed second phase includes an additional 60,000-square-foot assisted living facility. County and town officials worked cooperatively to secure the project.
“We look forward to working with the town and the county to bring this exciting new concept in active senior living to the community,” sadi Adam DeSantis, director of development for Glenwyck, in a prepared statement.
The complex would be located on a 15-acre property, but a large portion of the site is planned to be green space, according to county officials.
The site is currently zoned for professional/residential and general business, so town officials need to approve a zoning change before construction can start. Construction is planned to begin following town approvals.
Glenville Supervisor Christopher Koetzle touted the project as part of the town’s ongoing effort to attract new developments.
“This project is an important piece of our overall redevelopment plan and will provide much needed new, upscale housing for our seniors,” Koetzle said in a prepared statement. “We believe this development in our community is another indication that Glenville is a growing town and great place in which to invest.”
The Schenectady County Industrial Development Agency is considering the developer’s request for a payment in lieu of tax (PILOT) agreement, according to county officials, which collects 100 percent of taxes on the land as it’s currently assessed with taxes on the new senior housing facility to start at 50 percent of full value. It would increase in 5 percent increments annually until reaching full value.
County officials estimate the project would generate $1 million in new tax revenues over the proposed 10-year PILOT agreement
“It is so important that we provide options for our older residents to stay in the community where they have lived, worked, and raised their families,” Marty Finn, chair of the County Legislature’s Economic Development Committee and County IDA member, said in a prepared statement. “This project will create high quality housing for those looking to downsize when they retire so they can remain in our community.”