September 17, 2007

Schenectady, N.Y., September 17, 2007 — Metroplex today announced that demolition work will begin this week on the long vacant 40,000 square foot Robinson Furniture Building on lower State Street. Metroplex will complete demolition work this month and then turn a shovel ready site over to a group of investors that plan to construct a mixed-use building on the parcel.

Located at 238-248 State Street, the former Robinson Furniture Building has been vacant for almost 15 years limiting opportunities for growth in the lower State Street corridor of downtown Schenectady. In August of 2006, Metroplex began to study whether the building could be saved despite serious decay including a partially collapsed roof.

Metroplex recently completed asbestos abatement work in the building. During the asbestos work, it became obvious that demolition was the only viable alternative due to very poor and unstable conditions within the building. The City of Schenectady has hired Dan’s Hauling of Troy to conduct the demolition work after a competitive bidding process. The demolition work will cost $274,135. The City IDA, administered by Metroplex, is expected to approve funding for the project.

After demolition work is completed, Metroplex will convey the shovel ready site to Schenectady Renaissance, LLC, a group of investors that plan to construct a mixed use commercial/residential building at the site. Every attempt will be made to create a façade that closely resembles the former Robinson Building in compliance with downtown design guidelines.

Metroplex Chairman Ray Gillen said, “We looked at every opportunity to save this building, but in the end, the deterioration was so severe that the only viable option was demolition and new construction at the site. We are hopeful that new construction at the Robinson Furniture Building site will act as a catalyst for development on lower State Street.”

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