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Industrial, mixed-use and retail: A look around Schenectady's recent real estate investment

Updated: May 24, 2021

There's more than 1.6 million square feet of development underway or recently completed in Schenectady County, according to the Metroplex Development Authority.

That activity includes everything from warehouse and manufacturing space to downtown apartments and new retail space.

We've rounded up some of the biggest projects going on in Schenectady right now:

Investments in industrial

The Galesi Group plans to build a 200,000-square-foot building at the Rotterdam Corporate Park, the latest investment in response to the strong demand for distribution and warehouse space.

The Galesi Group is also building a $15 million expansion for Adirondack Beverage in the Glenville Business & Technology Park. The project will add 100,000 square feet for the business.

Also at the Glenville park, specialty cheese company Bel Gioioso is building a 100,000-square-foot manufacturing plant, according to Metroplex.

The former Sears at Via Port Rotterdam is being renovated into a 103,000-square-foot facility for United Auto Supply, a wholesale distributor of original auto equipment, aftermarket parts and accessories.

Focus on mixed-use

There are also plenty of projects right now that involve mixed-use residential and retail development:

Redburn Development Partners is renovating the former headquarters of Capital District Off-Track Betting Corp. into apartments. Redburn bought the 20,000-square-foot building at 510 Smith St. for $365,000 from OTB.

Redburn is also renovating the four-story building at 132 North Broadway — originally the printing plant of The Daily Gazette newspaper — into apartments and retail space.

A former bank in downtown Schenectady is being demolished by Redburn, to make way for a new mixed-use building. The building at 501 State St. was originally built in 1972 by Albany Savings Bank.

A 17,000-square-foot building at 430 Franklin St. in Schenectady will be renovated by Chris Spraragen, president of Schenectady Hardware and Electric, and his sister, Brooke. It's one of the largest vacant buildings downtown that hasn't yet been renovated.

Pennrose LLC expects to finish the first phase of the new Yates Village public housing complex in Schenectady by the end of this year. The $27 million first phase includes 89 one- to three-bedroom garden-style units.

Retail recovery

Catherine Hover recently opened a second location of her Palette coworking and cafe space in downtown Schenectady. The 4,600-square-foot space is in the Foster Building at 508 State St.

The first New York location for convenience store chain Alltown Fresh opened on Erie Boulevard in Schenectady. The store was built on the site of the former Grossman's Lumber store, a 2-acre lot at 1410 Erie Blvd., across from Rivers Casino & Resort.

An upper Union Street building in Schenectady is getting two new tenants after a renovation by attorney Lou Lecce. He will lease the building at 1671 Union St. and will lease the property to Storied Coffee and a specialty gift shop called b.inspired.

Read the full story: here


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