BY PETE DEMOLA, The Daily Gazette
SCHENECTADY, N.Y. — There has been a housing boom in the city’s downtown section within the last five years.
Over 1,110 housing units have been constructed within the past seven years and more are in the planning stages, including a 49-unit mixed-use building on the site of the now-demolished Citizens Bank at 501 State Street.
A new report, released last week, provides concrete numbers to illustrate the exact demand.
Over the next five years, downtown Schenectady could potentially absorb 675 to 850 new rental units, 50 to 75 new condominiums and 85 to 130 new townhouses.
That’s a total of 810 to 1,055 new market-rate housing units, according to a housing study released as part of the Schenectady Downtown Revitalization Initiative (DRI).
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