A major renovation is being planned for Franklin Plaza, a 10,000-square-foot complex of retail and office space near the corner of Franklin and Lafayette streets in Schenectady.
The City Council approved the sale of the building last week to area developer James “J.T.” Pollard for $115,000. Pollard heads Re4orm Architecture, a Schenectady-based firm responsible for some of the city’s bigger development projects, including Center City, Bow Tie Cinema, an expansion of the Schenectady County Public Library and new student housing, among other projects.
“We appreciate the City Council’s support for our plan to sell 151 Lafayette Street,” said Mayor Gary McCarthy in a news release. “The sale of the building brings $115,000 to the city. It also sets the stage for the building to be revitalized by J.T. Pollard, who has played a leading role in many development projects in downtown Schenectady.”
The city seized Franklin Plaza in tax foreclosure in September 2012. It has previously been occupied by several auto repair services, Schenectady Yellow Cab, a local Scotts Lawn Service and CertaPro Painters. With a mix of retail space, large garage bays and a view of City Hall, city officials think a new use for the building would add to downtown’s revitalization.
The Franklin Plaza building is located on the corner of Franklin and Lafayette streets, close to City Hall and just two blocks from the Proctors block.
“We look forward to making this building an asset to the downtown area,” said Pollard in the release.