Eighty acres of waterfront property could be yours — for $3.9 million.
Realty USA Commercial recently listed for $3,970,000 the property off Alplaus Avenue owned by Stanley Kivort of Kivort Steel. County officials are hopeful that a mixed residential and commercial project could be developed on the site formerly used by General Electric as a place to test jet engines. Now, it has a mix of dilapidated warehouse buildings and car repair businesses. The Mohawk Marina and the Capital Region Maritime Center also have facilities there.
Ray Gillen, commissioner of the Schenectady County Economic Development and Planning Department, said the county sees this parcel as ripe for redevelopment.
“It’s a gorgeous spot on the river,” he said during a tour on Thursday afternoon.
The property went on the market about a month ago, according to Susan Cerone of Realty USA.
“We’re looking to do some real nice upscale condos with docks,” she said.
There has already been a lot of interest in the property, Cerone said. The real estate company sent out about 100 packets of materials to development firms and so far have gotten about 35 responses — mostly from downstate.
Gillen said this is a great time to do this development with the growth in the economy — such as 500 alternate-energy engineering jobs coming to General Electric over the next couple of years.
Gillen stressed that neither the county nor Glenville wants an overly intense development. The exact mix of residential and commercial uses would be determined by the new owner, but officials envision mostly residential with some research or technology office space.
“We want to do it in a way consistent with smart growth,” he said.
The property zoning is a mix of suburban residential, research development technology, riverfront recreational, commercial and conservation.
There are some wetlands located on the property, Gillen said. Any contamination issues from prior use seem to be minor. Also, the land will be able to connect to municipal water and sewer.
Mark Storti of the Schenectady County Economic Development and Planning Department, and also a Glenville resident, said the marina is a very popular attraction in the summer. “This place is hopping,” he said.
This parcel is one of three in Glenville on the county economic development team’s to-do list, Gillen said, with the other two being redevelopment of the Navy land in the Scotia-Glenville Industrial Park and the development of a technology park at Schenectady County Airport.
Cerone said she hoped that a buyer would step forward in the spring, so the developer could begin to obtain approvals in late spring.
“The approval process is probably going to take six months to a year,” he said.
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