Commercial Real Estate
The former Tobin’s First Prize meatpacking property on the border of Albany and Colonie will be demolished this year and rebuilt next, according to a story in the Albany Business Journal. The demolition of the property, owned by Saratoga-Springs-based Richbell Capital, was first planned four years ago. The plans will change as the coronavirus pandemic has the developers rethinking the amount of residential space versus commercial, the story says.
Government, Law and Legal Services
Saratoga Springs City Council will have at least two openings this fall as Mayor Meg Kelly has announced she will not seek re-election. She adds her name to that of out-going Commissioner of Finance Michele Madigan. This from a story in the Saratogian. She served two terms as mayor after serving as deputy mayor.
Travel, Tourism and Recreation
The Industrial Development Authority in the Tupper Lake area is looking to offer a payment-in-lieu-of-taxes to a hotel developer in that area. It would mean a payment of less than the $2.3 million over 20 years that taxes would bring in, the Adirondack Daily Enterprise is reporting this morning. The hotel, developed by Crossroads LLC, has not yet won approval of the Adirondack Park Agency and the local government officials are crying foul at the way the possible agreement has been handled. A public hearing is scheduled for today, the paper says.