Schenectady County, N.Y. — Schenectady County’s economic development team, in cooperation with the Town of Glenville, today announced plans for a new $7.3 million, 104 unit senior housing complex at the corner of Dutch Meadows Lane and Route 50 in the Town of Glenville.
“It is so important that we provide options for our older residents to stay in the community where they have lived, worked, and raised their families,” said Marty Finn, Chair of the Schenectady County Legislature’s Economic Development Committee and a member of the Schenectady County Industrial Development Authority (IDA). “This project will create high quality housing for those looking to downsize when they retire so they can remain in our community.”
“This project is an important piece of our overall redevelopment plan and will provide much needed new, upscale housing for our seniors,” said Town Supervisor Chris Koetzle. “We believe this development in our community is another indication that Glenville is a growing town and great place in which to invest. We look forward to our continued work with the County and the developer to move this project forward.”
The new facility will be called Glenwyck Manor. It will be limited to ages 62 and up. Glenwyck Manor will feature both one and two bedroom units plus a community center that will include an indoor pool. The building will be located on more than 15 acres with a large portion of the site reserved for green space. The first phase of the project is estimated to cost $7.3 million. A second phase will feature an additional approximately 60,000 square foot assisted living residence.
The site is currently zoned for professional/residential and general business. The Town will consider a change in zoning to allow for residential construction at the site.
The Schenectady County IDA will consider the developer’s request for a payment in lieu of tax (PILOT) agreement that collects 100% of taxes on the land as it is currently assessed with the taxes on the new senior housing facility to start at 50% of full value increasing in 5% increments each year until it reaches full value. The project will generate an estimated $1 million in new tax revenues for the Town, Scotia Glenville School District and Schenectady County over the ten year term of the PILOT.
Glenwyck Development LLC plans to start construction following all local approvals. The development company has a long track record of successfully developing commercial real estate projects throughout New York, Vermont and Massachusetts.
Glenwyck’s Director of Development Adam DeSantis said, “We look forward to working with the Town and the County to bring this exciting new concept in active senior living to the community”.