And still there are folks who say - WRONGLY - that the Mohawk Harbor Project won't do anything to help Schenectady.
Developer proposing 60 apartments near Schenectady casino Jan 14, 2016, 6:48am EST Michael DeMasi Reporter Albany Business Review
Developer David Fusco, who has been considering building apartments on Erie Boulevard in Schenectady, New York for the past year, wants to move forward with the project. It just so happens that now the 60 apartments, if approved by the city, would be built near the site of a $330 million Rivers Casino and Resort expected to open in the next 18 months or so. The casino and hotel, in turn, are next to the $150 million Mohawk Harbor mixed-use development that will include apartments, retail stores, professional offices, a hotel and newly-dug harbor with access to the Mohawk River. Fusco, president of Fusco Realty Group in Schenectady, said there's a need for more apartments in that part of the city. Other developers have been focusing on adding units in the downtown core, which is a short drive from the 1.5 acres Fusco owns at 1419 Erie Boulevard. A one-bedroom, 900-square-foot unit would rent for $900 and a two-bedroom, 1,100-square-foot unit would rent for $1,150. He's asking the city Planning Commission to approve a four-story, 60-unit building on the parcel, which is now vacant. The estimated total project cost is about $5.5 million. Fusco bought the property, which was once a gas station, seven years ago, paying $350,000. He said he spent another $200,000 or so to remove underground contamination. He then tried to get permission to build a new gas station with a drive-thru Dunkin' Donuts, but the proposal was withdrawn because of opposition from neighbors who live on an adjacent street. "We're just looking for the next highest and best use," Fusco said. "It's a permitted use. This is what Schenectady wants." If approved, construction would start in the spring and take about nine months. Fusco's company would build the units. His real estate holdings include CVS and Advance Auto Zone parcels; Colonial Car Wash in Schenectady; a new warehouse in Menands that is the home of Sky Zone Indoor Trampoline Park; and apartments in East Greenbush, Glenville, and elsewhere.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
oh yes....the rent will be 'affordable' hahahahahahahaha.....apartment buildings use more resources aka: water/sewe/garbage etc......I just wonder if the wages paid by the casino will be sufficient for that rent? hhhhmmmm
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
apartment buildings use more resources aka: water/sewe/garbage etc......
60 apartments use more than 60 homes???? Really. Care to share the data to support this?
60 apartments...smaller living space....shared interior walls as opposed to all exterior walls....less to heat and cool 60 apartments...120 people (2 bedroom places)...use same amount of water, utilities, etc. as 60 houses with 2 residents each
Please show me your math!
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
60 apartments use more than 60 homes???? Really. Care to share the data to support this?
60 apartments...smaller living space....shared interior walls as opposed to all exterior walls....less to heat and cool 60 apartments...120 people (2 bedroom places)...use same amount of water, utilities, etc. as 60 houses with 2 residents each
Please show me your math!
concentrated living quarters....let's say there are 120 people living there....they eat/drink/sh!t and make garbage. Are these 'high end' apartments or casino worker affordable?
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
concentrated living quarters....let's say there are 120 people living there....they eat/drink/sh!t and make garbage. Are these 'high end' apartments or casino worker affordable?
how does that support your claim? same 120 in 60 homes eat/drink/sh*t and make same amount of garbage????
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
There Are Great Tax Breaks that Come with Investing in Multi-Family Properties
When you provide housing it’s a good thing. The government thinks so, too.
The city in which the property is located likes the idea, because you are helping the residents of that city by providing clean, safe, affordable housing to people who might not otherwise find it.
As a result, you can gain all sorts of tax incentives… also known as tax breaks. You can take a whole lot of deductions because this is a business. You are running a business of Real Estate Investing. You can depreciate all sorts of things in an apartment building or rental property, and that depreciation takes place over more than two decades… sometimes three decades, depending on whether the property is classified as residential or commercial. The size of the property and other factors dictate the classification.
The long and short of it is that when you invest in multi-family properties, you’ll want to get a very competent CPA and/or CFO to help you get as many deductions and tax incentives possible. It could be that you can even get government grants to offset upfront costs. The benefits on this side can be massive. You could end up paying zero property taxes. That would save you money in a big way, right?
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Considering that Schenectady has a record high number of EXISTING VACANT residential units, both in rentals and in single family homes, most in very good shape, what possibly could be a reason to create more vacant residential units.
So the city ignored the neighborhoods, put all their focus on their rich political cronies downtown, failed to enforce codes at the properties of the worst landlords. In so doing, the BS and McTHIEF leadership have deliberately caused the increase of blight and dilapidated houses by failing to go after the owners, the actions of this pair have brought down home values in the city. So then they have to make taxpayers instead of the code violators demolish or repair the houses.
Cheer cheer Rah Rah. Naturally those who do not pay taxes are the ones that cheer the loudest for spending the money of those who do pay taxes.
No, I do NOT believe that higher taxes or fees make a property worth more nor did I say that.
But constantly cheering for spending the taxpayers money, hiking the taxes on people in the city. So DV, just tell us now what has happened in the past 10 years of hiking taxes on the homeowners in the city? Increasing taxes on the homeowners to fund the downtown projects of the millionaires and billionaire political cronies of BS and McTHIEF?
I trust you know the FACTS that the increased taxes and wild uncontrolled spending on downtown has caused MASSIVE reduction in home values in the city AND reduced the tax base.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
) apartment buildings use more resources aka: water/sewer/garbage etc......
I REPEAT...provide something to support your claim! You post around it and not at it! Is it a fact that "apartment buildings use more resources aka: water/sewer/garbage etc......" as you claim or not?
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
I trust you know the FACTS that the increased taxes and wild uncontrolled spending on downtown has caused MASSIVE reduction in home values in the city AND reduced the tax base.
So what? You're not a city taxpayer, it has no effect on you ... unless of course you're trying to sell property IN the city.
We are advised NOT to judge ALL Muslims by the actions of a few lunatics, but we are encouraged to judge ALL gun owners by the actions of a few lunatics. Funny how that works.
Considering that Schenectady has a record high number of EXISTING VACANT residential units, both in rentals and in single family homes, most in very good shape, what possibly could be a reason to create more vacant residential units.
So the city ignored the neighborhoods, put all their focus on their rich political cronies downtown, failed to enforce codes at the properties of the worst landlords. In so doing, the BS and McTHIEF leadership have deliberately caused the increase of blight and dilapidated houses by failing to go after the owners, the actions of this pair have brought down home values in the city. So then they have to make taxpayers instead of the code violators demolish or repair the houses.
Cheer cheer Rah Rah. Naturally those who do not pay taxes are the ones that cheer the loudest for spending the money of those who do pay taxes.
But constantly cheering for spending the taxpayers money, hiking the taxes on people in the city. So DV, just tell us now what has happened in the past 10 years of hiking taxes on the homeowners in the city? Increasing taxes on the homeowners to fund the downtown projects of the millionaires and billionaire political cronies of BS and McTHIEF?
I trust you know the FACTS that the increased taxes and wild uncontrolled spending on downtown has caused MASSIVE reduction in home values in the city AND reduced the tax base.
OH MC1....give it a break!!! I wouldn't live in the city of Schenectady if you handed me the 'best' house for free!!! HOWEVER.....that is just me....but you can rest assured that the 20 somethings ARE living in downtown apts. Some can't wait for new ones to be built. they luv downtown and being in walking distance of it. actually, we know of a young couple who are expecting their 1st baby soon and have no intentions of moving from their downtown loft apt.
aside from all this.....there are bigger fish to fry than Schenectady! soon enough...no one will be able to afford anything!! there are no jobs...ANYWHERE, crime is rampant EVERYWHERE, taxes are rising EVERYWHERE, half of the ENTIRE population is on food stamps, stock market is crashing GLOBALLY! this ENTIRE COUNTRY is in deep sh!t!!
with that being said...MC1.....if you believe in the redistribution of wealth....then vote for Bernie. if you are wishing for a level playing field for ALL......that my cyber friend is nothing more than a pipe dream. there was NEVER a level playing field!!!!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I REPEAT...provide something to support your claim! You post around it and not at it! Is it a fact that "apartment buildings use more resources aka: water/sewer/garbage etc......" as you claim or not?
show me why building a building to increase the population in the city does NOT increase the use of municipal resources.
if P then Q
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
All these apt. projects are "Milenial" based initiatives. They are the new target breed that the money people are looking to, to relieve them of their $. According to news reports their numbers are roughly 78 million strong and have replaced the "baby boomers" as the new target for the consmer based business. They do not want home ownership. They want to up/go with job advancement relocation etc. They also want in their apts. stainless steel appliances,marble kitchen counter tops,coffee stations, and islands in the kitchen. They are the new breed to be "herded" and catered to as the boomers ebb, and with that, less $ to be spent by the boomers, not counting the influx of $ into the nursing home industry by said boomers. In the eyes of many we are just mere cattle to be herded here and there, to be relieved of our $.
show me why building a building to increase the population in the city does NOT increase the use of municipal resources.
if P then Q
AWESOME...just like McTroll. You avoid supporting a fictional claim that you state as a fact and go off in some other direction. How about just proving your fictional claim! Maybe McTroll can help you, but since he's provided nothing on his drive thru "FACT", I wouldn't rely on it.
How about it Senders...you are the one that made the claim. I'm only asking you to back it up with facts!
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
Obviously, the negative responses of some prove my original point. There are some people who will NEVER admit to anything good/positive happening in Schenectady.
The FACT that the developer is choosing to invest millions of his own money Downtown and the FACT that he has stated the Mohawk Harbor project (including but not limited to the casino) was a major factor in his decision proves that a) Schenectady is heading in the right direction or else developers would not be risking their money and b) the Mohawk Harbor project (including the casino) will prove to be a positive catalyst for economic redevelopment despite the wailing and whining of naysayers.
Now to deal with some of the negative arguments.
Yes - Schenectady has a lot of existing housing units -- however - #1) the bulk of that housing stock is 50-75-100-100+ years old -- or to put it another way OBSOLETE or at least in need of a tremendous amount of rehab work to make them appealing to live in, and #2) there is very little housing stock in or near Downtown -- which is where millennials and down-sizing baby-boomers want to live. These 60 new units are just the beginning - I hope and expect - of a trend to build more housing in Downtown. Every new or redeveloped building Downtown should be required to have a portion of its square footage dedicated to residential housing units. The more folks that we have living Downtown the more we will create that "critical mass" needed to support retail and other services in that neighborhood.
I expect and predict that the positive developments Downtown, which are now spreading to the Erie Boulevard and Lower State Street Corridors, will begin to spread into the Stockade area, the North-side, State Street Corridor above Nott Terrace, Mont Pleasant and Eastern Avenue neighborhoods. It is like a game of dominoes - it took some time to turn things out of the downward slide - but now the slow but sure and steady wave of positive growth for the City-County of Schenectady is underway.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
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