2nd phase of loft project approved

Schenectady

The Metroplex board approved the second phase of the Lofts at Union Square on Wednesday.

The board approved the $1.3 million investment designed to create 10 loft apartments and 2,370 square feet of ground floor retail space in a new four-story building on lower Union Street in downtown Schenectady.

Construction will begin this summer. The first phase, already completed, included eight town home apartments at Union and Barrett streets.

Developers are Christopher Maddalone and Charles Rosenstein, who are also completing work on 11 new apartments at the former Spencer Business School at 200 State Street.

Financing for the project is being provided by Kinderhook Bank. Metroplex is providing a $90,000 grant toward facade and other construction costs, according to Metroplex officials.

The board also approved a contract with Dan's Hauling of Albany for $138,563 for the demolition of buildings on Eastern Avenue as part of a joint effort by Metroplex and Schenectady's Land Bank to improve the Eastern Avenue corridor. The four buildings to be demolished are at 722, 803, 821 and 870 Eastern Ave.

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2nd phase of loft project approved