(Schenectady, NY) Schenectady County Officials today announced that work has begun on a new $20 million retail development at the corner of Route 50 and Glenridge Road in the Town of Glenville.
“The contracts are signed, property closings are complete and we are a few weeks away from demolition starting,” said Judy Dagostino, Chair of the Schenectady County Legislature. “This is something that we all worked very hard to accomplish and we are so pleased to see this vacant site become a real asset for the residents of the Town of Glenville and Schenectady County.”
The redevelopment effort has been a partnership between Schenectady County, Metroplex and the Town of Glenville. The County and Town both identified redevelopment of the vacant Kmart as their top priority for Glenville. Metroplex worked with RD Management and Target to start development at the site. Metroplex also acted as lead agent on the State Environmental Quality Review Act (SEQRA) process and assisted with State permits. The Town of Glenville coordinated all necessary local approvals.
“This is great news for Glenville and the entire County,” said Cathy Gatta, Schenectady County Legislator representing Glenville and member of the Schenectady County IDA. “This redevelopment effort will mean increased sales tax, property tax and new jobs for Schenectady County.”
“We have worked very closely with Schenectady County and Metroplex to make sure that every timeline was met so that this key development project could move forward,” said Chris Koetzle, Glenville Town Supervisor. “This is the day and this is the project that Glenville residents have been waiting for. This has been a true partnership between the County and the Town to advance this critical project.”
The first work to get underway at the site is removal and abatement of asbestos in the vacant Kmart and Albany Public Market Stores that now occupy the 14 acre site. In about three weeks, demolition will begin so that the site can be cleared. This will be followed by work on building foundations and construction of the new retail development.
The vacant structures on the site will be replaced by a new Target Store and a new retail building adjoining the new Target. Target has hired Whiting Turner Construction to build a new 135,000 square foot store at the site.
RD Management, LLC based in New York City will develop and construct the adjoining retail space. RD Management operates 18 million square feet of commercial real estate in the United States and Puerto Rico.
Metroplex provided an exemption from sales tax for construction materials and equipment used to outfit the two new retail buildings. The project will generate significant new sales and property tax for the Town, County and Scotia Glenville School District. Metroplex also is providing a $180,000 grant toward infrastructure costs.
“Our thanks to the County Legislature, the Metroplex Board and the Town of Glenville for their outstanding cooperation on this project,” said Ray Gillen, Metroplex Chair and Commissioner of Economic Development and Planning for Schenectady County. “Everyone was so supportive and we thank the Town of Glenville for its partnership in making sure that necessary approvals were obtained in a timely manner.”
Construction is expected to be completed in the fall of 2012.
Contact:
Joe McQueen
(518) 388-4772