The success of a Weibel Avenue apartment and retail building has prompted the developer to propose a similar project nearby.
Sonny Bonacio’s construction company began work in late 2011 on The Springs, a mixed use space at 60 Weibel Ave., with about 180 apartments and retail space on the first floor. Bonacio said he has been pleased with the performance of this site, which opened last year and has maintained a good occupancy rate.
Now he wants to open up a similar facility nearby at 72-74 Weibel Ave. The ongoing city review process continues on Wednesday with a meeting of the Planning Board.
“It’s really a continuation of [The Springs],” he said about plans for a building with 120 apartments, about 86,000 square feet of first-floor retail space and more than 200 parking spaces. Bonacio purchased this property about a year and a half ago.
The two projects are separated by a small parcel of land that is not owned by Bonacio, but he said that won’t impact the development.
On the site plans for the new project, proposed businesses for the retail space include an art gallery, bakery, day care center and real estate office. The retail space in The Springs has dry cleaning, day care, a gym, a barber and Bonacio said they’re trying to get a food option, too. He said the retail space is ideally serving as a convenience for the tenants.
Based on the demand from The Springs, Bonacio said the new development would have more one-bedroom apartments.
A key aspect of both projects, he said, is open space, with a village green included in the new proposal. He also touted the unique design of the project, which was drawn up by the locally based LA Group, according to a site plan with the city.
Bonacio wouldn’t comment on the price tag for either development, but said between $700,000 and $800,000 was spent on off-site infrastructure to make this work possible.
Weibel Avenue has become a popular site for development, with Bonacio crediting the boom to the location’s proximity to Northway exits, shopping and downtown Saratoga Springs.
If the city approves the development, Bonacio anticipated it would take about 10 or 11 months for the entire project to be built.
Also on the agenda for Wednesday’s meeting is a proposed Congress Plaza hotel, senior apartments on West Avenue and a mental health facility on South Broadway.
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