Schenectady, N.Y., February 15, 2018 — The Schenectady County Metroplex Development Authority today announced that a vacant building in downtown Schenectady will be renovated as loft apartments. The building at 432 Franklin Street is across from City Hall. The project adds to the development momentum in Schenectady’s fast growing downtown.
Urban Initiatives Group, led John Samatulski, is the developer on the project. Mr. Samatulski has already redeveloped five properties in downtown Schenectady including 140 Erie Boulevard, 9 Broadway, and three homes in the Stockade Historic District.
John Samatulski said, “We have a vibrant downtown that is attracting new residents and businesses from throughout the Capital Region. These apartments will be just a short walk to dozens of downtown shops, businesses, and employers. I am proud to start the renovation of my sixth building in Schenectady.”
A total of six apartments will be created within the 6,000 square foot two-story former office building at 432 Franklin Street. Metroplex will provide a matching grant for façade improvements worth $24,000. The renovated building will be called The Franklin.
Ray Gillen, Chair of the Schenectady County Metroplex Development Authority said, “We are very pleased to work with John Samatulski to renovate another key building in the core of downtown. This project creates market rate apartments a block from Proctors and so many other downtown attractions.”
The project was approved by the City Zoning Board of Appeals on February 14th. Construction is planned for spring and summer 2018.
432 Franklin Street, Schenectady, NY