{"id":15049,"date":"2014-05-06T13:49:34","date_gmt":"2014-05-06T17:49:34","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2014\/05\/development-co-awaits-approval-214-unit-apartment-project-malta.html"},"modified":"2014-05-06T13:49:34","modified_gmt":"2014-05-06T17:49:34","slug":"development-co-awaits-approval-214-unit-apartment-project-malta","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2014\/05\/development-co-awaits-approval-214-unit-apartment-project-malta\/","title":{"rendered":"Development Company Awaits Approval For 214-Unit Apartment Project In Malta"},"content":{"rendered":"<div class=\"img-left\">\n<div><img loading=\"lazy\" decoding=\"async\" alt=\"the lofts c.jpg\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2014\/05\/the20lofts20c.jpg\" width=\"300\" height=\"220\" class=\"alignleft\">\n<\/div>\n<div class=\"img-caption\">This architect&#8217;s rendering shows what the proposed development would look like at 48 Saratoga Village Boulevard, south of Route 67, in Malta\n<\/div>\n<\/div>\n<p>By Jill Nagy<\/p>\n<p>Hayes Development is awaiting approval<br \/>\nfrom the Town of Malta for its revised plans<br \/>\nto construct The Lofts at Saratoga BLVD<br \/>\ndevelopment.<br \/>\nOriginally approved as a group of &#8220;midrise&#8221;<br \/>\napartment buildings, the revised plan<br \/>\ncalls for 214 garden-style apartments on the<br \/>\nnine-acre site.<\/p>\n<p>The change in plans was prompted by appraisals<br \/>\nand market studies that indicated<br \/>\nthat present and future demand for garden<br \/>\napartments would be greater than for more<br \/>\nconventional apartments, according to Robert<br \/>\nHayes, president and co-owner of Hayes<br \/>\nDevelopment.<\/p>\n<p>The apartments would be one-, two- and<br \/>\nthree-bedroom units with attached garages,<br \/>\nranging in size from 950 to 1,250 square feet.<br \/>\nThey are planned as rental units but Hayes<br \/>\nsaid he was not yet ready release information<br \/>\nabout the probable rental charges.<\/p>\n<p>The development will be located at 48 Saratoga Village Boulevard, south of Route 67, in Malta. The plans were prepared by Paul Newman of Cohesion Studios, Inc. in Troy. AM builder has not been selected yet, Hayes said.<\/p>\n<p>If the revised plans are approved, construction will begin this year and be completed in approximately two years, according to Hayes. Hayes Development Company has identified strong demand for market-rate, conventional apartments in Malta, said Hayes.<\/p>\n<p>He said demand for this type of housing is being driven by several key indices including local population and employment growth stemming from the ongoing multi-billion dollar investment by the microchip manufacturer, GlobalFoundries.<\/p>\n<p>The developers plan to use an eco-friendly urban design for the apartment buildings. The exterior design is a blend of traditional and modern styles, which will complement and enhance the existing downtown architecture, said Hayes. To create a greater sense of privacy, each resident will have a separate garage and front door entrance, eliminating commons areas. The buildings will be constructed on concrete slabs with both one covered and one uncovered parking space for each apartment.<\/p>\n<p>The project is in the downtown district of Malta, about two miles from GlobalFoundries and a mile from the new Albany-Saratoga Emergent Care Center. The site consists of 8.84 acres easily accessible by Exit 12 of Interstate I-87 and Route 9. Hayes said given the properties visibility and proximity to the interstate, Lofts at Saratoga BLVD could also appeal to people who work in Albany, about 20 miles away.<\/p>\n<p>Photo Courtesy Hayes Development<\/p>\n","protected":false},"excerpt":{"rendered":"<p> This architect&#8217;s rendering shows what the proposed development would look like at 48 Saratoga Village Boulevard, south of Route 67, in Malta By Jill Nagy Hayes Development is awaiting approval from the Town of Malta for its revised plans&#8230;<\/p>\n","protected":false},"author":121,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,12],"tags":[57,63,93],"class_list":["post-15049","post","type-post","status-publish","format-standard","hentry","category-business-news","category-construction","tag-business-news","tag-construction","tag-malta"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - 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