Announcement: Starting Dec. 5, the morning Executive Summary is moving exclusively to our Substack page, foothills businessdaily.substack.com. Read more about our decision to move there and what’s next for FoothillsBusinessDaily.com here.
NRP Group building affordable housing near hospital
Construction of a 202-unit affordable housing complex near Saratoga Hospital has begun, the Albany Business Journal is reporting. The affordable housing developer NRP Group of Cleveland had to secure financing from a New York State agency after the pandemic drove prices out of range, delaying the start date. The plans include 12 buildings of apartments and townhomes.
Rising Rent in Schenectady draws crowd
The Schenectady City Council heard from dozens of people who complained about the cost to rent apartments in the city. Prices have risen almost 10% since 2019, the Daily Gazette is reporting. The council first thought to enact rent stabilization measures over the summer but decided instead to hold a town-hall-style meeting as a way to gauge the issue. Renters and landlords spoke of needs on both sides, from affordable apartments with long waitlists to the pandemic-era regulations that hogtied landlords.
NY Pension keeps Ohio coal alive
Ten of the largest investors in the coal-fired Gavin Power Plant in Ohio are public pensions, a story in the Times Union says. New York State’s massive Common Retirement Fund, invests in the Blackstone Capital Partners VII fund which invests in the coal plant that was ranked among the worst in the nation. This, despite Comptroller Thomas DiNapoli’s pledge to divest from fossil fuel producers that don’t have climate transition plans, the story says. [Heads up: It’s a long read.]
Common Roots is the ABJ cover story
The Albany Business Journal has a cover story that profiles Common Roots brewery in South Glens Falls. The story runs through their recent acquisition of property next door to the brewery and an expansion of their brewing capacity. [See our coverage of Common Roots, here.]
LGPC nearly ready with septic regulations
Septic system regulations proposed by the Lake George Park Commission, regulations that will affect thousands of buildings along the shoreline, could become law early next year, says the Adirondack Explorer. The proposed inspection program passed muster with the audience at a required public hearing, the story says. The LGPC may vote as early as this month on the rules. [The rules are similar to rules Queensbury has enacted. Read more here.]