(Schenectady County, NY) Schenectady County officials today joined with the Town of Niskayuna to announce that the $26 million Rivers Ledge Project on the Mohawk River is moving forward. Last night, the Town Planning Board unanimously approved the project that will turn a former auto scrap yard into a new waterfront community including bike trails and parkland.
Anthony Jasenski, Chairman of the Schenectady County Legislature said, “This continues Schenectady County’s pro-active efforts to replace blighted sites on the river and reclaim our waterfront with smart growth projects like Mohawk Harbor and now Rivers Ledge. We thank the developer, our county economic development team, Town Supervisor Joe Landry and the Town Planning Board and staff for working together to make this project a reality.”
Town Supervisor Joe Landry said, “The Town is excited to move this project into the construction phase as we work together to transform this site into a great new residential project that will create tax base and open up our waterfront for more public use. We thank the County, Metroplex, Peter Luizzi and his team for working with us to transform this parcel into something that will keep Niskayuna moving forward as the premier residential community in the Capital Region. ”
The twenty–one (21) acre site is located just off of Aqueduct Road near the new $32 million Rexford Bridge. The site borders the Mohawk River, the Mohawk-Hudson Hike/Bike Trail and the Town of Niskayuna’s Aqueduct Park. The Rivers Ledge project will include a new parking area for the bike trail and a new connector trail to the waterfront. The project will also bring public sewer to this part of the Town. The new sewer lines will be built by the developer and turned over to the Town at no cost to the public.
The development team is headed by Mr. Peter Luizzi and Mr. Saverio Minucci. Mr. Luizzi owns Luizzi Brothers Contracting, a paving and site work contractor located in Albany. He is also the developer for the Stoneledge Terrace project in Troy that includes 156 apartments and 60 condominiums. He worked with Mr. Minucci to convert the former MVP building in downtown Schenectady into 30 apartments. Mr. Minucci is a real estate developer and investor who previously owned a manufacturing company in the Capital Region.
At Rivers Ledge, the two partners plan to build 160 apartments with river views plus a pool and clubhouse. Over half the site will be maintained as greenspace and a future phase of the development may include units for active seniors. The project will have direct access to Aqueduct Park and the riverfront.
“We are excited to work with and to have the support of the Town of Niskayuna, Metroplex, and Schenectady County to develop a project we all can be proud of,” said Mr. Luizzi and Mr. Minucci.
Ray Gillen, Metroplex Chair and Commissioner of Economic Development and Planning said, “Rivers Ledge is a major investment that will create a gateway to Schenectady County at the base of the new Rexford Bridge. This also continues our efforts to open up the waterfront in Schenectady County for public use. The Rivers Ledge development is a major boost to this effort.”
The next step in the approval process is issuance of permits by the County so that sewer work can proceed. Site work should begin in early Spring and the project should be completed in late 2019.
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