The YMCA’s housing program, currently located on State Street, will move to Broadway as part of a $25 million renovation project, officials announced today.
The program is currently at 13 State St., but will move to 845 Broadway, next to the Schenectady County Department of Social Services building.
Getting the project going is more than $11 million in tax credits approved by the New York State Homes and Community Renewal, the state’s housing agency. The tax credits provided the final piece of financing for the project to get underway, officials said.
“These tax credits will allow for the renovation of a dilapidated building that sat vacant for too long, creating a modern housing facility for many in our community, especially our veterans,” Judy Dagostino, chairwoman of the Schenectady County Legislature, said in a statement.
The 95,000-square-foot vacant building is to be converted into 155 efficiency apartments, each with its own kitchen, bath, bedroom and living area.
The project is tapping other funding sources, including federal and state historic tax credits. The building is on the federal Register of Historic Buildings, making it eligible for the credits.
Built in 1915, for the Mica Insulator Company, the building has wide-open interiors and large concrete floor plates with extensive windows. It’s a design that makes it suitable for housing, officials said.
All local approvals are in place, with work expected to begin in the coming weeks. A 12-month construction schedule is planned.
The project is being developed by the Galesi Group, of Rotterdam. The builder is to be Bonacio Construction, the architect is to be Re4orm Architecture, of Schenectady.
With the housing program relocating, the YMCA has already relocated its fitness center to Center City. The old YMCA building is to then be redeveloped by Metroplex as part of plans to redevelop lower State Street.