Upstate New York

Community Loan Fund awards COVID-19 small business grants

Schenectady, NY The Community Loan Fund of the Capital Region awarded $121,000 in grants to small businesses impacted by COVID. These grants are part of the City of Schenectady’s Small Business Assistance Program and will help businesses adjust to the challenges of the pandemic.

SWBR expands with 3tarchitects acquisition

Rochester, NY SWBR acquired Troy-based 3tarchitects. The acquisition will allow SWBR to expand geographically into the growing Capital Region and will allow 3tarchitects to deepen their impact by expanding the size and scope of their projects. “Over the past 50 years, we have maintained a proud heritage of designing memorable places

Wendel welcomes Pietkiewicz as director of project development

Buffalo, NY Wendel, a nationally recognized architectural, engineering, energy efficiency and construction management firm, welcomed Michael Pietkiewicz as director of project development. Pietkiewicz’s focus will be on the firm’s national higher education client sector. 

SWBR honored by 2019 Jeffrey Zogg Build New York Awards for design of RIT’s MAGIC Spell Studios

Rochester, NY SWBR was recognized by the 2019 Jeffrey Zogg Build New York Awards for its design of Rochester Institute of Technology’s MAGIC Spell Studios at a virtual award ceremony held on October 20th. The Association of General Contractors NYS awards highlight the positive impact of the construction industry in New York State

Black Bear Capital Partners arranges $32 million bridge financing

New Rochelle, NY Black Bear Capital Partners (BBCP), a real estate financial advisory firm and subsidiary of Black Bear Asset Management, has arranged $32 million in bridge financing on behalf of a private investor for the refinance of The Millennia, a new, ground-up

Largo Group of Cos. originates $12.7m for three office properties

Syracuse, NY The Largo Group of Companies secured a total of $12.7 million in financing for three office properties. Ned Perlman, vice president of originations at Largo, negotiated a $9.4 million loan with a federal credit union for a seven-story office building. The 75% leveraged deal featured funds for tenant improvements, 25-year amortization, partial recourse and no prepayment penalty. 

ThermoAI receives $1 million grand prize in 76West Clean Energy Business Competition

Albany, NY Governor Andrew Cuomo announced $2.5 million in support to four winners of the 76West Clean Energy Business Competition to advance innovation to lower carbon emissions and spur economic growth in New York State. ThermoAI, a company from Montreal, Canada, received the top $1 million grand prize award for its cutting-edge technology, which reduces carbon emissions and increases energy efficiency, enabling the company to expand its business operations in the Southern Tier.

The Moderne Condominiums in Saratoga Springs by Bonacio Construction; designed by Design Logic Architects, PC

Saratoga Springs, NY Bonacio Construction, Inc. is introducing a new project in the city, The Moderne Condominiums. The two- and three- bedroom condos and penthouses are located at 128 Henry St.  The building features a curated art collection in the

2020 Hudson Valley apartment market - by Brian Heine

As of July, all of New York State has qualified for Phase IV reopening, and as we come out of the pandemic the major concern in the multifamily industry is the effect on rents and occupancy, unemployment is always the biggest threat. Temporary job layoffs and permanent losses among the industries that are large tenant employers, particularly retail and hospitality, have reduced collections mid-year in those cases where stimulus funds are insufficient to cover both rent and tenant living expenses.

Montgomery County’s redevelopment efforts continue at Exit 29 site

Canajoharie, NY Montgomery County’s efforts to redevelop the vacant Exit 29 site, formerly the home of Beech-Nut Nutrition for over 100 years, took a step forward this month with the completion of the asbestos abatement process for the remaining portions of the former manufacturing facility and office building. The site, which the Montgomery County Business Development Center (MCBDC) has been working to clean up and prepare for redevelopment since the county took possession of it in July 2017, is likely to see greater interest from prospective developers now that the costly asbestos removal process is complete.