BY MICHAEL DEMASI, Albany Business Review
It’s been eight years since demolition began of the dilapidated industrial buildings that were once part of the mighty American Locomotive Co. factory on Erie Boulevard in Schenectady.
It’s been seven years since water from the Mohawk River started filling a newly dug harbor that is the centerpiece of the Mohawk Harbor mixed-use development.
And it’s been six years since the Courtyard by Marriott opened, followed soon after by the Rivers Casino and Resort and the remaining buildings of what became a $600 million transformation of the city’s riverfront.
Now, with the signing of a lease with a golf simulator business, the development owned and built by The Galesi Group is virtually full — including thousands of square feet of retail space, offices, 206 apartments and 15 waterfront condos that have sold for $600,000 to $800,000.
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