BY MAUREEN WERTHER
The path of real estate development rarely
runs swiftly or in a straight line, as evidenced
by the changes occurring at the Excelsior Park
development site located just minutes from
Nearly 10 years ago, John Witt of Witt Construction
originally envisioned the property to
contain more than 200 condominiums. But, as
the market for condominiums lessened, the
project was shut down after the first 30 units
were built and sold.
As the real estate market surged, Witt
resurrected his project, albeit with a different
focus on the types of units being built.
In response to the need for affordable rental
units in and around town, Witt sold a portion
of the Excelsior Park neighborhood to
James Burns and Peter Rosecrans Jr. of Burns
Management, an Albany-based real estate
The company paid $1.58 million for the
property and plans to invest another $20 million
on construction of the units.