Originally owned by Northern Rivers Family of Services, the three-story, 40,000-square-foot building at 530 Franklin Street was acquired by Spraragen Partners in 2018. Northern Rivers continued to lease the first and second floors, while Spraragen began renovations on the 11,000-square-foot third floor to attract new tenants.

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In 2021, Destine Preparatory Charter School selected Schenectady as the site for its new campus, recognizing the city’s need for high-quality educational options. Renovations commenced on the entire third floor to accommodate the school, transforming the space into four elementary classrooms, administrative offices, and a multipurpose room. Destine Prep opened its doors in August 2022 with kindergarten and first-grade students, and has since expanded to serve grades K–3, with plans to grow to fifth grade by the 2026–2027 academic year.

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The conversion of 530 Franklin Street from office space into an educational facility marks a significant investment in the city’s future. It reflects a broader trend of adaptive reuse of downtown properties to serve community needs and contributes to the ongoing revitalization of Schenectady’s urban core.