Schenectady, N.Y., April 30, 2018 — The Schenectady County Metroplex Development Authority today announced that the former Trustco headquarters at 192 Erie Boulevard will be renovated as tech office space and apartments with a $4.5 million renovation.
The Schenectady County Legislature will consider the sale of the building at its meeting this evening before voting on the sale on May 8th. Hudson Partners Development will purchase the building for $2 million subject to final approval by the County Legislature.
Hudson Partners Development, LLC plans to keep two floors of the building as office space while renovating the top four floors as 36 apartments.
Based in Schenectady, Hudson Partners Development has successfully built office, residential and mixed-use projects in the Capital Region. It also provides property management services to many commercial and residential projects.
In Schenectady, Hudson Partners successfully redeveloped 200 State Street into 11 apartments plus ground floor retail. Also in Schenectady, the company built 18 apartments and town homes with ground floor retail on Union Street. In Albany at 99 Pine Street, Hudson Partners is converting three floors of office space into 35 apartments while retaining commercial tenants on the first two floors in a 101,000 square foot building.
Chris Maddalone and Seth Meltzer from Hudson Partners said, “Hudson Partners is pleased to work with Metroplex and Schenectady County. Our redevelopment projects on Union and lower State Street and in Albany have all focused on re-energizing urban areas with new office and living space. The Trustco Building is very similar to a mixed-use project now underway on Pine Street in Albany and we are excited to launch another major renovation project this time in our hometown of Schenectady.”
Anthony Jasenski, Chairman of the Schenectady County Legislature said, “The Schenectady County Legislature is pleased to return this property back to the tax rolls. This development continues our strong, focused effort to rebuild downtown where hundreds of new apartments and thousands of new jobs have been created.”
“The Trustco sale and renovation continues the momentum in downtown Schenectady and enhances the Erie Boulevard corridor which is now seeing a large number of new investments. We are grateful to Hudson Partners for this major investment in Schenectady County,” said Ray Gillen Chair of the Schenectady County Metroplex Development Authority.