News - Prime real estate

Formally owned by Skidmore College, the “pink palace” at 32 Union Ave. will be torn down by the end of the year to make room for The Residences on Union Ave., a condominium complex that will be built and owned by Norstar Development, an international development company with properties all over the United States, Canada and Europe.

The “pink palace” or Moore Hall was built in the early 1957 as a dormitory that held 160 students and a dining hall within its six floors. In Professor Mary C. Lynn’s book about Skidmore College, she stated that the building was never meant to be pink—the paint was supposed to fade with time to a more neutral tone. That, however, never happened, thus giving Moore Hall its nickname.

In place of the “pink palace,” eight classic mansions, six carriage-style houses and four smaller homes will be built on the property, all intended to be bought for a maintenance free condominium lifestyle.

“We will offer a unique condominium project that will restore this part of Union Avenue to its original splendor,” said Mitch Markowitz, director of sales and marketing for Norstar Development. “The common perception of a condo is a high-rise building with suites available to own. This project will offer buyers the privacy of a single family home and the convenience of a traditional condominium complex.”

He added that the new condos have been designed in the same style as the old mansions surrounding the area, making the condos look as if they have been there for hundreds of years.

From Union Avenue, it will be hard to tell there are more than two buildings on the property he said.

“It is important that we maintain the integrity of that area. We didn’t want the project to look like all of the other condominiums in town. We want it to look like it belongs,” Markowitz said.

The buildings were designed by local architect John Muse, who also designed the new Saratoga YMCA located on West Avenue.

The main mansions will each have three floors, with a master bedroom, four to five additional bedrooms, luxury kitchen and bathrooms, elevators, private entrances and underground parking.

Prices for all of the buildings range from $600,000 to $1.5 million.

“We are targeting people who want the lifestyle of a condominium, but may not want to share an entrance or have people living above or below them. They will be ideal for second and third home owners. There is the luxury of locking the door and leaving for months at a time without having to worry about cutting the grass or shoveling snow,” Markowitz said.

Also appealing to buyers is the proximity to Broadway, Congress Park and Saratoga Race Track, he added. He has heard feedback from locals who wish to live closer to downtown, as well as people from as far away as Kentucky and Florida who know of Saratoga Springs because of the racetrack.

“The condos will really appeal to a lot of people who are looking for a prime location in Saratoga Springs. This is one of the best pieces of property in the city,” Markowitz said.

Building for the condominiums is slated to begin in spring 2009, with a projected completion date of summer 2010.