Saratoga Developer Looks At Griffiss
Editor’s Note: Last week, a BBJN.com article was excerpted here on a downtown developer building an apartment complex in Johnson City. This week, BBJN.com’s Eric Reinhardt reports on a Saratoga developer with a more ambitious project near Rome.
ROME – A Saratoga Springs firm plans to develop a new, mixed-use apartment community with office and amenity-oriented space at Griffiss Business and Technology Park in Rome.
Bonacio Construction Inc. will purchase 4.2 acres of land on State Route 825 for the project’s first phase, the office of Gov. Andrew Cuomo said in a news release.
It will include two, four-story, mixed-use buildings with street-level commercial space and 84 units of
upper-level, market-rate apartments.
The estimated cost of the project is $20 million, Cuomo’s office said.
Empire State Development will provide a capital grant of up to $1.25 million to Griffiss Local Development Corporation to support this mixed-use development.
The Mohawk Valley Regional Economic Development Council had recommended it as a priority project during the eighth round of Cuomo’s regional-council initiative, per the release.
Construction will start this fall with “substantial completion expected in one year,” Cuomo’s office said.
New York State recently completed construction along the stretch of state Route 825 that fronts this development site.