Developer plans to invest $30 million in city’s poorest neighborhood
STEPHEN WILLIAMS / Gazette Reporter
SCHENECTADY — The city plans to sell 29 vacant lots and abandoned properties in the Hamilton Hill neighborhood to a private developer with plans to invest $30 million to build a mix of apartments and commercial/retail space.
Sales of the foreclosed or abandoned properties to The Community Builders for $17,012 was approved earlier this week by the City Council’s City Development and Planning Committee. The City Council will vote on the sale agreement Monday.
The Community Builders, a non-profit developer with regional offices in Boston, is already building the first phase of the Hillside View project in Hamilton Hill, a $20 million project that is turning the former St. Columba’s and Horace Mann schools, both on Craig Street, and other properties into 58 apartments for families and senior citizens. Work began on those projects began last winter and is expected to wrap up in the spring.
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