By Maureen Werther
Bonacio Construction is planning a condominium project on Union Avenue in Saratoga Springs at the site of a former Skidmore College dormitory.
The plan is for 26 units to be built after the demolition of Moore Hall at 28 Union Ave.
The project must first be approved by the city Planning Board.
“These things take time, and this is just the beginning of what is typically a lengthy process,” said Larry Novik, director of business development for Bonacio Construction.
Bonacio is teaming up on the project with Norstar Development of Buffalo, pending approval. Norstar is the owner of the former Skidmore dormitory, which they purchased from Skidmore in 2009 for $1.12 million.
Norstar scrapped its earlier plans to build 18 condos on the site because of the market downturn during the recession and the accompanying difficulty in obtaining funding.
Bonacio previously proposed to erect 53 small apartments on the site. It was met with opposition from the neighboring residents.
According to the LA Group, architect for the project, under the new concept, total square footage is down, as are the number of bedrooms in the 26-unit design.
The condos would range in size from one-bedroom up to three bedrooms in four-story buildings. They will be between 1,000 to 2,000 square feet in size and parking is going to be located underground on the building’s first floor. Bonacio anticipated the listing prices to be in the $700,000 range and lower. He said that there is no longer a market for million-dollar plus condos in Saratoga.
Michael Toohey, real estate development attorney with Snyder Kiley Toohey Corbett & Cox, LLP, is working on the proposal with Bonacio.
The company has been constructing condos, residential, and commercial projects in the region since 1988.
Bonacio Construction’s other current projects include the CaffÃ¨ Lena mixed-use building on Phila Street, a senior living apartment facility in Malta, and condos on the corners of East and Excelsior avenues.
The CaffÃ¨ Lena project involves a $500,000 philanthropic partnership between the venue and Bonacio Construction that will revitalize not only the 47 Phila Street music venue and add eight apartments in a building to be constructed at the corner of Phila and Henry streets that is currently a parking lot.
The building on the corner will have mixed use, with commercial space on the ground level. The apartment space, with an address of 55 Phila St., will have eight residential units.
Bonacio plans to begin work this year, with the interior work being finished up into early 2017.
CaffÃ¨ Lena will close for a time, but said there will be “satellite” concerts held at other venues in the city, so that the organization and its board of directors can continue its concerts.
CaffÃ¨ Lena purchased the building in 1998, but many renovations were needed, including an elevator to the second-floor venue for handicapped access.
With guidance from Frost Hurff Architects, the CaffÃ¨ will begin long-planned major renovations, including: overhaul of the infrastructure; expansion of the listening room from 85 to 110 seats, with enhanced sightlines, sound and listener comfort; modernization and relocation of kitchen, green room, administrative and rest room spaces; and improvement of existing stairway.