SCHENECTADY — With construction in the final stages, tenants are expected to begin moving into the newest downtown apartment complex at the corner of State and Clinton streets by the end of the month.
The $15 million State and Clinton mixed-use complex is the latest in a long line of development projects undertaken in recent years by Redburn Development Partners, a Schenectady-based real estate company that operates dozens of apartments at various properties. from the city.
The latest project, underway since 2019, features 65 one- and two-bedroom units spread over four floors and includes 4,000 square feet of ground-floor retail space that will house a Mediterranean-style restaurant, slated to open next spring. , according to Elizabeth Young Jojo, executive vice president of Redburn Development.
“We expect most of the building to be completed by the end of the month and hope to start moving tenants around October 15,” she said.
A temporary chain-link fence will remain in place while crews work to install new sidewalks and reinstall parts of the building’s brick and plank facade, but Jojo said passers-by should expect to see changes noticeable in the coming weeks.
Inside, construction crews were busy Monday plastering walls and completing remaining finishing work throughout the 65,000-square-foot building between Clinton and Barrett streets.
The property once housed a vacant bank, which was razed in 2020 with Metroplex Development Authority support of $295,000. The project also received $2.75 million in state assistance as part of the city’s downtown revitalization initiative.
Jojo said the company only started marketing the building a few weeks ago and units are still available, but expects things to fill up quickly given the downtown location. city of the building, which is just steps from the Proctors Theater and the restaurants and outlets that dot the Jay Street Pedestrian. hallway and State Street.
“The reception we’ve had has been really wonderful,” Jojo said.
Rent will vary depending on the unit, but one bedroom will start at $1,000 per month, while a two-bedroom unit will cost $1,795, according to Jojo, who said prices are in line with what similar units go for throughout the city.
Utilities including high speed internet, cable, hydro, heat and air conditioning will be covered by a separate monthly fee of $250.
Each unit features 12ft ceilings and light floors, as well as an in-bedroom walk-in closet and spacious bathroom. The kitchen features granite countertops and stainless steel appliances, including a dishwasher and all-in-one washer and dryer housed in a separate closet.
The building also includes several shared amenities, including a courtyard, fitness center and dog wash station, Jojo said.
“We believe in the power of bringing residents downtown and that downtowns are neighborhoods,” she said. “We truly believe that the more people you bring to live in a city center, the better everyone survives and thrives.”
The construction of the State and Clinton complex is outside the typical framework of Redburn Development, which specializes in rehabilitation, not new construction.
But Jojo said the prime downtown location, coupled with the familiarity of the business, paved the way for the project. Redburn is headquartered nearby on Lafayette Street and owns the medical office building adjacent to 500 State St. and the Fitzgerald Building at 144 Clinton St., adjacent to the new location. Both buildings are fully occupied, Jojo said.
The company also operates several apartments throughout the Palisade.
Redburn’s latest project is the latest in a growing number of apartment complexes that have been completed or are underway throughout the city centre.
City planners have approved dozens of new apartments throughout downtown in recent months, including a new five-story, 46-unit apartment complex at 31 Lafayette St., and 80 units for 271-277 State St. .As part of Cass Hill Development Co.’s plans to restore the Wedgeway Building at the corner of State Street and Erie Boulevard.
Highbridge Prime Development has also received approval to build a 24-unit apartment complex along State Street, adding to the 104-unit Electric City apartment complex the company completed in 2019.
Contact journalist Chad Arnold at: [email protected] Follow him on Twitter: @ChadGArnold.
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