Schenectady, N.Y. — The Schenectady County Metroplex Development Authority today announced plans by a Niskayuna investor to renovate 515 State Street, one of the last remaining buildings still awaiting redevelopment on the Proctors Block in downtown Schenectady.

The building located on the corner of State and Barrett Street will receive a major renovation to both the exterior and interior.  Four apartments will be upgraded on the upper floors. The first floor retail space will also be renovated.

“We are pleased that the Hickey Family will invest over $500,000 in this project.  This is a key building on State Street and once it is renovated it will be a great addition to the Proctors Block,” said Ray Gillen, Metroplex Chair.

515 State Street is located just a half block from Proctors, SEFCU Square, Center City, Hampton Inn, MVP, Bow Tie Cinema and other downtown attractions.

Sara Mae Hickey said, “This project will restore a great old building.  We look forward to working with Metroplex on this project that will create attractive housing opportunities very close to all the major attractions in the downtown area.”

Metroplex will provide a $50,000 façade matching grant to the project.

Work will begin on the building later this summer.