SCHENECTADY — Upstate Dermatology’s 6,500-square-foot space in downtown Schenectady will soon become a 20,000-square-foot medical complex, according to developers.
The company plans to connect 461 Clinton Street Extension, the 10,000 square-foot building where it currently leases space, with 318 Broadway, a vacant space next door, to create a larger office space. Upstate Dermatology worked on the plan, which will likely cost somewhere between $2 million and $3 million in total, alongside Schenectady County Metroplex Development Authority. Metroplex is giving Upstate Dermatology an exemption on the sales tax for the building’s renovation materials, according to Chair Ray Gillen.
“We developed the project and got all the approvals done. Our board approved it,” Gillen said. “It keeps that historic [Broadway] building in place. It renovates it and connects it. So they go from the tenant of the building to the owner of the building and they build a connector building and restore the historic one.”
While Gillen said he could not share how much Upstate Dermatology will pay for the property, Schenectady’s 2020 final assessment roll shows that the Clinton property has a full-market value of $855,000 and the Broadway property has a full-market value of $205,900.
The previous owner of the Broadway property was Highbridge Development, Gillen said. Highbridge purchased the building in June of 2019 for $250,000, according to Schenectady’s Sole Assessor Molly MacElroy, which was the property’s most recent sale information available. The last time the Clinton property was sold was in December of 2006, when Highbridge Clinton LLC purchased it. No transaction amount is readily available in the city’s online records.
Highbridge CEO John Roth is also the owner of Plank Construction Services, which will be working on the updated facility.
The new office space is expected to open in Spring of 2021. The expansion will retain 17 jobs and create eight new ones.
“It’s important that we preserve buildings like this [Broadway one],” Gillen said. “The building is in pretty good shape. To connect it with this medical building and create a pretty large medical complex right in the heart of downtown is positive. It creates jobs, construction work and brings visitors and patients downtown. It’s a project that builds a vibrant downtown.”
Brian Brill, Upstate Dermatology’s business director, and Roth, did not respond in time for publication.