The former Curry Road Plaza in Rotterdam will be transformed into the Residences at Vista Square with 208 apartment units.
Real estate developer Richbell Capital, based in Saratoga Springs, plans to invest $28 million to redevelop the old plaza into a top-tier rental apartment community.
The Schenectady County Metroplex Development Authority board approved the plans during a meeting Wednesday evening.
The site will include eight residential buildings along with a clubhouse, outdoor swimming pool, coffee bar and fitness center, according to a news release from Metroplex. The building will have elevator service and inside parking.
Metroplex is providing a $350,000 grant toward demolition costs to remove vacant retail buildings now located at the 12-acre site. Asbestos is now being removed in the buildings with demolition scheduled to start in June.
“The redevelopment of this long vacant plaza has been a priority for the County Legislature and we’ve worked hard with our partners in the town to get to this day,” Schenectady County Legislature Chairman Anthony Jasenski said. “The Richbell team has exciting plans for this site and we are pleased to work with them to turn an eyesore into an asset for the town and county.”
Construction will also start this month on a 2,200-square-foot retail building facing Curry Road, according to Metroplex.
Richbell Capital is the developer, owner and manager of The Paddocks of Saratoga, a 420-unit luxury apartment community in Saratoga. The developer also did the Kensington of Halfmoon, a 200-unit luxury apartment community in the town of Halfmoon.
Also during the Metroplex meeting Wednesday evening, the board approved a $13.3 million plan to renovate the former Draper School in Rotterdam into the Draper Lofts with 113 apartments.
The Metroplex board also approved a 65,800-square-foot office and retail building at the Mohawk Harbor site in Schenectady.
The Galesi Group plans to invest a total of $25.2 million to construct the building. Construction is underway on the site off Erie Boulevard on the Rivers Casino and Resort at Mohawk Harbor along with a 206-unit apartment building. Plans there are include a 15-unit townhouse building and possible 50-unit condominium building along with a 50-boat-slip harbor and biking and walking paths.
Reach Gazette reporter Haley Viccaro at 395-3114, email@example.com or @HRViccaro on Twitter.