The Albany Business Review published a report on the continued explosion of construction of apartments in Saratoga Springs. Link
Burns Management, an Albany based developer, expects to complete construction of the first units of a $20,000,000.00 project by January. They report that Burns Management has completed more than half of the first seventy apartments of a proposed one hundred and five unit complex in the Excelsior Park development.
Their president, Peter Rosencranz Jr., told the review that “Our target market will be empty-nesters and young professionals who are looking for a walkable downtown and a maintenance free lifestyle.”
Burns Management purchased the property for $1.58 million in December from John Witt.
They plan to incorporate a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments with a rent range from somewhere under $1,100.00 per month to $2,500.00 per month.
Burns Project Construction Site
Back around 2000, Home Depot attempted to build a huge box store at this location. A groundswell of opposition defeated them.
Developers John Witt and Jeff Pfeil then proposed an ambitious development based on the buzz words “New Urbanism.” It was supposed to create a community of homes, offices, and small retail while maximizing the green spaces and incorporating trails.
“We are creating a neighborhood, not just a development,” opined Jeff Pfeil.
The project ran into trouble. As far as I can tell, Pfeil managed to bail. Witt built a set of condos (see picture), but that was it. Before the Marriott was built the Witt condos was all that happened.
I am unclear as to how much land was involved. I have photographed the area immediately adjacent to the Witt buildings and provided an aerial view.
Field Of Dreams: Landscape Around Witt Condos For New Urbanism
Given the distance this project is from Broadway, it will take some very robust tenants to walk to the downtown and they will have to be very careful since there are no sidewalks for most of the way down Route 50.
Mr. Witt told the Business Review that he has plans to build additional row houses there that will sell from between $200,000.00 and $400,000.00.
No one is talking about “New Urbanism.”
New Bonacio Project On Excelsior Avenue
Further south on Excelsior Avenue Sonny Bonacio is completing a large apartment complex.