It is the Owners desire to seek an investor/developer that would be interested, at a bare minimum, in developing the 33 acre site on the east side of Route 9, preferably for high-end apartments, condos, town houses and/or senior citizen housing. The demand for these types of uses exist now and with Governor George Pataki's recent announcement regarding the construction of a $500M computer chip center only minutes away via I-90 and the expected spin-offs, the demand for these uses is expected to increase. We have had recent interest for all of these uses.
With the Schodack Town-designated water tank site located on the east side of Route 9, this would be the logical area to start what should be a 100+ acre development. We say 100+ acres because of the possibility of including adjacent properties on both sides of Route 9. If this were done, this initial 100 acres could easily become a 300 to 400 acre development backed up to the new upscale golf course in North Chatham. With the developer in control of the water system, this basically locks in the adjacent properties to a large degree.
The owners are looking for the right principals to develop part or all of this property. They are looking for individuals or a company with a proven track record who will be permitted to lock in these properties initially with zero risk. The potential developers will be given time to perform a nominal viability study and if the results are promising, substantial time to line up potential tenants, financing, government grants, etc. A reasonable schedule for Due Diligence would also be established.
The Sellers will also agree to offer the Buyers of the 33 acres on the east side of Route 9, a ' LOW COST OPTION' on the remaining 67 acres located on the west side of Route 9, providing the following terms are met:
a) Potential Buyers and Sellers will negotiate a specific time period to again do a feasibility study, using ground work originally laid down by Brewer and Associates Engineering Services, regarding the water system, traffic control, etc. Using the previous studies of Brewer and Associates will virtually eliminate initial planning costs that would be needed to assess feasibility.
b) Develop a conceptual plan encompassing the 100 acres on both sides of Route 9. We believe this can be accomplished at relatively little cost and dwarf the leverage potential given by the Sellers. The Green Space dedication, identification of egress and ingress locations, opposing traffic considerations, environmental issues, etc., basically mandate a 100 acre development effort from the start.
If you would like more information on this property, please call 518-392-7062 or click on the mailbox below.
