Niskayuna, N.Y. — The Town of Niskayuna and Schenectady County officials today provided an update on redevelopment of ShopRite Square, located at the corner of Nott Street and Balltown Road in Niskayuna, NY. Next Thursday night, the Niskayuna Town Board is scheduled to call for a public hearing on a special use permit needed to move forward with the latest improvements to the shopping plaza.
Town Supervisor Joe Landry said that two new tenants have signed leases at the neighborhood shopping plaza which has been the focus of a major redevelopment effort in recent years. In addition, a vacant Friendly’s is being torn down and a new building is planned at the site on an outparcel.
“Two new tenants, the demolition of the vacant Friendly’s and a new building facing Nott Street East are all part of our efforts to continue the major transformation that has occurred in the past two years at ShopRite Square,” said Supervisor Landry. “I am very grateful to IMCC St. James, L.L.C. for their commitment to continue to invest in and help us bring new tenants to this rebounding retail plaza in the heart of Niskayuna.”
The first new tenant is a Japanese style-steakhouse called Sakura Hibachi which will be a full service Japanese restaurant with sushi and hibachi offerings.
A nail salon called Splash Nails has also signed a lease at ShopRite Square.
In addition, a food-related tenant is currently in lease negotiations for 1,800 SF.
In recent months, a new TCBY Yogurt, Best Cleaners and Giant Discount Wine and Liquor have also signed leases and opened for business at the Niskayuna location joining the Capital Region’s first ShopRite store in the successful turn around of what had been a largely vacant retail site. Other tenants at the Plaza include LT’s Grill, Starbucks and Golden Phoenix.
Demolition of the vacant former Friendly’s is scheduled to occur in late March, 2013. The building’s demolition will allow for additional parking and landscaping that will join the front portion of the plaza with the rest of the complex.
IMCC St. James, L.L.C. of Oak Brook, Illinois (“IMCC”) owns the front portion of the Plaza. They purchased the former Friendly’s as part of a plan to recruit additional tenants to the plaza by improving access and visibility for shoppers.
IMCC also plans to construct a new 1,750 square foot building facing Nott Street East. The company is in discussions with several tenants about leasing this new building.
Marty Finn, Chair of the Schenectady County Legislature’s Committee on Economic Development and a member of the County IDA said, “The redevelopment of this plaza was one of the major priorities for the Legislature. By working together with the Town, we have transformed a largely vacant plaza into a very successful, expanding shopping destination.”
Art Rendak, President of IMCC, said “We are pleased to work with the Town of Niskayuna and Schenectady County to continue the successful redevelopment of ShopRite Square.”
The Schenectady County IDA is providing a $35,000 grant toward demolition costs of the former Friendly’s.