Details announced on proposed senior housing complex in Glenville

The Schenectady County IDA will consider a payment-in-lieu-of-taxes agreement on a proposed $7.3 mil
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The Schenectady County IDA will consider a payment-in-lieu-of-taxes agreement on a proposed $7.3 million senior housing complex being considered at the corner of Dutch Meadows Lane and Route 50.

The project, called Glenwyck Manor, will be limited to ages 62 and older. It will feature both one- and two-bedroom units plus a community center that will include an indoor pool. The building will be located on more than 15 acres with a large portion of the site reserved for green space. The first phase of the project is estimated to cost $7.3 million.

A second phase will feature an additional 60,000-square-foot assisted living residence, according to a press release from the county.

The PILOT agreement will collect 50 percent of the value assessed on the land and increase in 5 percent increments each year until it reaches full value. It will generate an estimated $1 million in new tax revenues for the Town, Scotia Glenville School District and Schenectady County over the ten-year term of the PILOT.

A zoning change to residential construction is needed because the land is currently zoned for professional/residential and general business.

“We look forward to working with the town and the county to bring this exciting new concept in active senior living to the community,” said Glenwyck’s Director of Development Adam DeSantis said in a statement.

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