Commercial Construction Saratoga Springs, NY and Saratoga County On The Rise
Commercial construction Saratoga Springs, NY and other areas of Saratoga County – particularly in Malta, NY, have seen a surge over the past few months. Just announced last week, a human resources executive and his brother, a builder and real estate developer from Westchester County, plan to invest up to $50 million to build a hotel in the heart of downtown Saratoga Springs, New York.
According to the Albany Business Review,
The brothers were attracted to the property because it is located in the center of Broadway, next door to the Adelphi Hotel, which is undergoing a $28 million renovation. The Rip Van Dam also has several commercial tenants including a Starbucks coffee shop, Keller Williams Realty office and Salt & Char, a 165-seat restaurant known for its $115 porterhouse and $125 tomahawk steaks.
The location also was attractive because it is around the corner from a 136-year-old former Methodist church. That property, known as the Universal Preservation Hall, is undergoing a multi-million dollar restoration that will transform the building into a 700-seat theater that will host concerts, lectures and fashion shows.
Salt & Char opened last summer, the Adelphi is expected to reopen this summer and renovations of the Universal Preservation Hall are scheduled to be finished by fall of 2018.
This development comes on the heels of major commercial construction in Saratoga County like the $20 million, 113 Room Homewood Suites by Hilton on South Broadway near the east entrance to Saratoga Spa State Park, as well as expansions in Malta to include mixed use office / retail and commercial buildings like The Bluth Building and Sitwell Plaza on Route 9, as well as a number of residential neighborhoods and apartments.
Such a large increase in commercial construction as well as residential can be attributed to the population boom the Capital Region has experienced in the past few years. With the arrival of Global Foundries, Saratoga County has seen a 3.4% increase from the 2010 population of 219,607, representing one of the fastest growth rates in the northeastern United States.
Have a commercial construction project in Saratoga Springs, NY or Saratoga County? Contact us today. Check out our commercial construction Saratoga projects including our work on Saratoga Performing Arts Center, Global Foundries and more.
