Schenectady, N.Y. – The Schenectady County Metroplex Development Authority and Redburn Development Partners today announced plans to redevelop 501 State Street, a vacant building and lot that impedes connectivity and walkability on the Proctors Block in Downtown Schenectady.
Ray Gillen, Metroplex Chair said, “Metroplex is pleased to work with Redburn Development Partners to take down this vacant building and redevelop the site. The current structure features a blank brick wall facing State Street that detracts from the energy and progress that has been made in downtown. This project will open up both Clinton and Barrett Street for more development while getting rid of the last eyesore on the Proctors Block.”
Jeff Buell, a principal with Redburn Development Partners said, “We are thrilled to continue our redevelopment efforts in Downtown Schenectady. This community is growing at a rapid and exciting pace and we hope that our latest efforts will bring development to key side streets in downtown as well as eliminating an architectural blunder on State Street. There are many unexplored side streets in this vibrant city and we believe strongly we can play a role in encouraging exploration in a new and exciting manner.”
Redburn Development Partners will acquire the property, abate asbestos in the building, tear down the existing structure and develop a new mixed-use building at the site. Metroplex will provide a $295,000 grant toward project costs. The Schenectady-based developer has already completed the redevelopment of an entire block of downtown anchored by the Foster Building. Redburn also completed a major renovation of a building on Clinton Street that now features apartments and a thriving retail incubator called the Clinton Street Mercantile.