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Pair has plan for Schenectady building

State Street block nears end of redevelopment

Friday, June 28, 2013
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A Niskayuna father and daughter will invest more than $500,000 to renovate 515 State St. in Schenectady into residential and commercial space.
Photographer: Peter R. Barber
A Niskayuna father and daughter will invest more than $500,000 to renovate 515 State St. in Schenectady into residential and commercial space.

— A Niskayuna father and daughter will invest more than $500,000 to renovate a three-story building on downtown Schenectady’s Proctors block into residential and commercial space.

The vacant building at 515 State St. near Barrett Street is one of the last buildings on that block in need of redevelopment, said Schenectady County Metroplex Development Authority Chairman Ray Gillen. He considers the Proctors block to include everything from MVP Health Care’s headquarters across from Veterans Park down to the railway overpass just before Erie Boulevard.

“Almost everything has been totally rehabbed and renovated,” he said.

A handful of buildings still need work, including the Foster Building at 508 State St. and the soon-to-be home of Mexican Radio at 325 State St. — all of which are currently under renovation. A few more spots are being considered for facade work, added Gillen.

A full restoration is being planned for the tan brick building at 515 State. It’s the first major investment for Dan and Sara Mae Hickey. The Niskayuna father-daughter team will upgrade four apartments on the upper floors and completely renovate the first floor for future retail space.

Metroplex will provide a $50,000 facade matching grant for the project.

“We were really interested in developing a building and creating some more living opportunities in Schenectady,” said Sara Mae Hickey. “We’d never done it before, but we wanted to diversify our assets. My father has a ton of experience in building and developing things, so we’re kind of doing this together.”

The younger Hickey has experience in business and nonprofit management.

She said she already has an idea of the tenant they have in mind for the first floor of the building, but that she and her father are not ready to announce who it is yet.

The more than 100-year-old building across from the Foster Building has been vacant for some time.

It was owned by well-known local businessman James Cammarto for years, and then went to his family after he died in 2010.

Work will begin on the renovation later this summer and is expected to wrap up by fall, said Hickey.

 
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comments

June 29, 2013
9:38 a.m.
cidbil says...

Wait, what!!???? How dare they invest $500,000 in Schenectady!! Don't they know nothing good ever happens in Schenectady? EVER!!!!! Haven't they been listening to the Zollites???? They will certainly tell you that nothing good ever happens in Schenectady.......EVER!!!!!

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