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Capital Region Land Bank Wins $1.7 Million Grant

Boost for Neighborhood Revitalization Efforts in Schenectady/Amsterdam

View archived news/updates:

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NEWS RELEASE          For Immediate Release

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Contact: Joe McQueen
             (518) 388-4772

 

Capital Region Land Bank Wins $1.7 Million Grant

               Boost for Neighborhood Revitalization Efforts in Schenectady/Amsterdam

 

Schenectady, N.Y., March 24, 2017 -- NYS Attorney General Eric Schneiderman today announced that the Capital Region Land Bank has received a $1.7 million grant from Enterprise Community Partners, Inc. to continue neighborhood revitalization efforts in Schenectady and Amsterdam. 

Richard Ruzzo, Capital Region Land Bank Chairman and a member of the Schenectady County Legislature said, “We are honored to receive this funding and look forward to continuing the Land Bank’s efforts to restore, revitalize and reinvigorate our neighborhoods.  We appreciate the great work that Attorney General Schneiderman is doing to protect homeowners and boost neighborhoods in New York State.”

In Schenectady, the Land Bank has partnered with Schenectady County, the City of Schenectady and Metroplex to demolish over 100 blighted buildings while improving dozens of homes and creating high quality housing in City neighborhoods.  The Land Bank is leading efforts to improve the Eastern Avenue corridor including the new Tribute Park, renovations at the former Copper Keg and many other renovation and demolition projects.  The Land Bank is working across the City including efforts to build new homes on the City’s Northside and on Barrett Street and is helping to turn the former DSS building on Nott Street into new apartments.  The Land Bank has also successfully completed blight-removing demolitions in Rotterdam and Rotterdam Junction.  

The new grant will allow the Land Bank to expand its efforts to Crane Street in Mont Pleasant plus continue its work on Eastern Avenue and other neighborhoods.  The City of Schenectady and Metroplex received a $1 million Restore NY grant last month that will be used to partner with the Land Bank to revitalize properties in many city neighborhoods.

“We have more investment headed to Schenectady County neighborhoods than any time in recent memory,” Ruzzo said.  “Almost $50 million in construction will be underway this year in the Hamilton Hill neighborhood along Albany and Craig Streets while we continue to use Land Bank resources to make meaningful progress across the City.”

Earlier this week, the Land Bank purchased 839 Eastern Avenue for $1,001 with plans to renovate the building as part of the Eastern Avenue neighborhood revitalization effort.

In Amsterdam, the Capital Region Land Bank is currently working with the Amsterdam Housing Authority to renovate seven vacant residential properties.  This award will allow the Land Bank to match demolition funds secured by the City to demolish additional blighted property in Amsterdam’s East End.

The $1.7 million grant was funded by Enterprise Community Partners and was made possible by a bank settlement negotiated by the NYS Attorney General Eric Schneiderman.   

The Capital Region Land Bank serves the City of Schenectady, Schenectady County and the City of Amsterdam. More information including listings of homes and side lots for sale may be found at www.capitalregionlandbank.com.

 

839 Eastern Avenue Schenectady, NY
Purchased by the Capital Region Land Bank on March 22nd

 

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Schenectady Metroplex Development Authority
Center City Plaza
433 State Street, Suite 401
Schenectady, NY 12305
phone (518) 377-1109
fax (518) 382-2575