Schenectady, N.Y. – Live in Schenectady, a group of private investors committed to investing in Schenectady neighborhoods, today announced that three new investors and two new banks have joined the program bringing the total number of investors and banks to 25.
The new investors include Jay Curtis, President of Curtis Lumber, and Steven and Marie Taszycki, co-founders of Competitive Advantage Group. Saratoga National Bank joined as an investor and lender. Berkshire Bank signed on as a lender.
“We welcome these new investors and banks to this all-volunteer effort to replace vacant and blighted sites with new homes,” said Jim Connolly, an investor in Live in Schenectady. “We purchased 19 vacant lots creating revenue for the city. We are now building 15 townhomes helping to boost this neighborhood.”
David S. DeMarco, President and CEO of Saratoga National Bank said, “We recently opened a new branch downtown and this program gives us the chance to increase our commitment to Schenectady neighborhoods and help new home owners.”
The Live in Schenectady program is designed to gather private sector capital from investors and use this funding to build new homes or repair vacant properties. The banks involved in the program help new home buyers obtain financing.
To date, over $625,000 has been raised from 18 investors. The first 15 townhomes will be completed later this year with more projects planned.
“We’re proud of what we’ve accomplished so far with Live in Schenectady,” said William Faubion, Vice President of NBT Bank, the lead lender on the project. “We are working together to make a positive impact on city neighborhoods.”
The Capital Region Land Bank recently demolished two vacant and derelict buildings on Barrett Street adjacent to the new Live in Schenectady townhomes as a further boost to the neighborhood.
To join Live in Schenectady as an investor or to learn more about the new townhomes contact Mary D’Alessandro at 518-452-4298.
A list of investors follows:
NBT Bancorp, Inc.
HB Housing Group, LLC – HighBridge Development Group
Friend of the Community, LLC – Jim Connolly
Galesi Management Corporation
Civco Live in Schenectady, LLC – Transfinder
Barrett Street Village LLC – Neil and Jane Golub
DRL Schenectady Housing, LLC – BBL Construction Services
James T. Pollard Architect, P.C./DBA: Re4orm Architecture
Precision Industrial Maintenance, Inc. – Todd Kilburn
Jackson Demolition Service, Inc. – Sandy Jackson
The Daily Gazette Co.
Capital Region Gaming, LLC – Rivers Casino & Resort
Raymond A. Bleser/Northeastern Fine Jewelry
LeChase Construction Service, Inc.
Advanced Ventures, LLC – Competitive Advantage Group
Jay S. Curtis – Curtis Lumber Co. Inc.
Saratoga National Bank
A list of participating banks follows:
Ballston Spa National Bank
Saratoga National Bank