Developer OK’d to acquire group of Schenectady properties

PHOTOGRAPHER: Haley Viccaro

The Schenectady City Council approved the donation of two vacant lots and the purchase of eight properties for a proposed Hamilton Hill redevelopment project on Monday.

Albany-based developer Community Builders plans to purchase the properties, which are all slated for demolition, to move forward with ambitious plans for Hillside View Apartments.

Plans for the multiphase project include new housing for low-income families, veterans and senior citizens in one of Schenectady’s neediest neighborhoods and later development along Albany and State streets.

The first phase of the project comes with a nearly $18 million price tag. Community Builders is seeking state funding and tax credits for the project.

Community Builders, a nonprofit developer, wants to convert the Horace Mann Elementary School at 602 Craig St. and the Schenectady Boys and Girls Club at 400 Craig St. into affordable housing with a total of 51 units.

The developer will purchase the eight city-owned or foreclosed properties for a total of $21,681:

• 702 Stanley St. for $2,500 (dilapidated residence).

• 708 Stanley St. for $2,900 (dilapidated residence).

• 716 Stanley St. for $2,900 (dilapidated residence).

• 720 Stanley St. for $3,000 (dilapidated residence).

• 730 Stanley St. for $2,500 (dilapidated residence).

• 807 Emmett St. for $400 (dilapidated residence).

• 310 Craig St. for $3,881 (planned city demolition).

• 704 Craig St. for $3,600 (planned city demolition).

The two vacant lots, at 812 Emmett St. and 934 Delamont Ave., will be donated to Community Builders in exchange for payment of associated legal fees.

Almost all of the properties do not currently pay taxes, but Schenectady Metroplex Development Authority Chairman Ray Gillen said payment-in-lieu-of-taxes agreements could be negotiated for some of them.

Community Builders was responsible for a $6 million rehabilitation of 20 buildings into 40 rental units in the city’s Vale neighborhood about a decade ago.

Reach Gazette reporter Haley Viccaro at 395-3114, [email protected] or @HRViccaro on Twitter.