News: Brokerage

Metroplex to invest $122,000 for four fa

Schenectady County's Metroplex Development Authority joined with the Upper Union St. Business Improvement District (BID) to launch plans to move forward with four façade improvement projects. The four projects all involve upgrades to storefronts on Upper Union St. "Redevelopment continues to take place throughout Schenectady County. These four façade projects, coupled with last year's major streetscape improvements, show how small business and the county's economic development team are working together," said Susan Savage, chairwoman of the Schenectady County Legislature. "The unique partnership with Schenectady County Metroplex and the property owners in the Upper Union St. BID makes it possible for business owners to enhance their façades through this successful matching funds program," said Guy Sementilli, BID chair and himself a Façade Improvement Grant recipient at Scotti's Restaurant, 1730 Union St. The four projects to get underway this year include: 1611-1613 Union St., 1729 Union St., 1604 Union St. and 1599 Union St. Ray Gillen, chair of Metroplex and commissioner of Economic Development and Planning for Schenectady County said, "The Upper Union Street BID is a great example of a business district that is continuously improving itself and the results are outstanding. We are pleased to work closely with such a dedicated group of businesses." Metroplex will invest $122,000 in grant funding for these four projects that will be matched on at least a one to one basis by business and property owners. For this round of funding, Metroplex expects matching commitments of more than $500,000. The program architect is Dave Sadowsky.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent