{"id":16796,"date":"2015-05-07T12:51:49","date_gmt":"2015-05-07T16:51:49","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/05\/500-housing-units-in-malta-are-planned-by-developers-from-florida-western-ny.html"},"modified":"2015-05-07T12:51:49","modified_gmt":"2015-05-07T16:51:49","slug":"500-housing-units-in-malta-are-planned-by-developers-from-florida-western-ny","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/05\/500-housing-units-in-malta-are-planned-by-developers-from-florida-western-ny\/","title":{"rendered":"500 Housing Units In Malta Are Planned By Developers From Florida, Western NY"},"content":{"rendered":"\n<div class=\"img-left\">\n<div><img loading=\"lazy\" decoding=\"async\" alt=\"park place project 2 hc.jpg\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2015\/05\/park20place20project20220hc.jpg\" class=\"alignleft\" height=\"216\" width=\"300\">\n<\/div>\n<div class=\"img-caption\">This is a rendering of a four-unit carriage building that will be included in the 500-plus unit Grand Ville at Park Place housing project planned in Malta by Lecresse Development.\n<\/div>\n<\/div>\n<p>BY BARBARA PINCKNEY<\/p>\n<p>Developers from Florida and western New<br \/>\nYork are close to starting work on Grande Ville<br \/>\nat Park Place, a 500-plus unit residential community<br \/>\nnear GlobalFoundries.<\/p>\n<p>Lecesse Development Corp., of suburban<br \/>\nOrlando, and Pittsford-based Morgan Management,<br \/>\nacting through a joint venture called<br \/>\nLecmor Multifamily LLC., received final project<br \/>\napproval from the Malta Town Planning Board<br \/>\nlast fall.<\/p>\n<p>They plan to build 512 upscale rental units<br \/>\non a 41-acre site on Landau Boulevard, which<br \/>\nis just off Route 9 near Stonebreak Road, and<br \/>\nabout three miles from GlobalFoundries.<\/p>\n<p>John Flynn, director of acquisitions for<br \/>\nLeCesse, said trees are being cleared from the<br \/>\nproperty and site work should get underway<br \/>\nwithin 60 days. It will then take 16 to 18 months<br \/>\nfor the completion of Phase I of the project,<br \/>\nalthough he indicated that the first units might<br \/>\nbe available for rent in less than a year.<\/p>\n<p>The developers are close to naming a contractor<br \/>\nfor the project, but Flynn declined to provide a name.<\/p>\n<p>Phase I will consist of 292 one-, two- and<br \/>\nthree-bedroom units in 18 buildings. Flynn said<br \/>\nthere will be three types of buildings: Traditional<br \/>\n&#8220;higher density,&#8221; elevator-service apartment<br \/>\nbuildings with 30 or 32 units each and attached<br \/>\ngarages; two-story &#8220;carriage&#8221; buildings, each<br \/>\nwith four units with eight garages; and traditional<br \/>\ntownhomes with &#8220;true streetscapes&#8221; in<br \/>\nfront and detached garages in back.<\/p>\n<p>Amenities include 9-foot ceilings, granite<br \/>\ncountertops, tall cabinets and upscale appliances<br \/>\nin the kitchens, and full-size washers<br \/>\nand dryers.<br \/>\n&#8220;Finishes will be very similar to what you<br \/>\nwould find, quite frankly, in a single-family<br \/>\nhome,&#8221; Flynn said. &#8220;If you&#8217;ve seen the other<br \/>\nnewer, nicer, upscale apartment complexes in<br \/>\nSaratoga County&#8211;it will be on par with those.&#8221;<\/p>\n<p>He said rent will be market-based, but is currently<br \/>\nestimated at between $1,300 and $2,200<br \/>\na month, depending on the size of the unit, the<br \/>\ntype of building it is in, and garage access.<\/p>\n<p>Lecmor also will take a 5,500-square-foot<br \/>\ncommunity center, originally built when Park<br \/>\nPlace was intended as the site of single-family<br \/>\ncondominiums, enlarge it to about 9,000 square<br \/>\nfeet, and renovate it for use by its tenants.<br \/>\n&#8220;It will be a traditional multi-family clubhouse<br \/>\nwith first class amenities, including a<br \/>\nfitness center, a business center and an Internet<br \/>\ncaf\u00c3\u00a9,&#8221; Flynn said.<\/p>\n<p>Both LeCesse and Morgan have other properties<br \/>\nin the Capital Region. LeCesse, which<br \/>\nhas built more than $2.5 billion in multifamily<br \/>\nproperties since its founding in 1952, owns The<br \/>\nLandings, a 240-unit community in Clifton Park.<br \/>\nMorgan&#8217;s holdings include the apartment communities<br \/>\nof Old Coach Manor in Queensbury,<br \/>\nHillcrest Village in Niskayuna and Park Guilderland<br \/>\nin Guilderland Center.<\/p>\n<p>Flynn said the partners were attracted to<br \/>\nthe region by the growth of the nanoscience<br \/>\ntechnology industry.<\/p>\n<p>&#8220;Independent of the GlobalFoundries project,<br \/>\nwe like that I-87 Corridor between the [Nano]<br \/>\ncollege [in Albany] and Saratoga Springs,&#8221; he<br \/>\nsaid. &#8220;We have been looking to develop in the<br \/>\nmarket, we just hadn&#8217;t found the right opportunity.<br \/>\nOnce this opportunity came along, looking<br \/>\nat the front door of GlobalFoundries, it was very<br \/>\nappealing to us. We are very excited.&#8221;<\/p>\n<p>Park Place at Malta has been under development<br \/>\nfor several years. It was originally<br \/>\ndesigned, by a group that included developer<br \/>\nVictor Gush, to hold more than 230 multi-family<br \/>\nhomes, 55 single-family homes and 115,000<br \/>\nsquare feet of commercial space. Lecmor purchased<br \/>\nthe 41 acre parcel it is using in 2013.<\/p>\n<p>DeGraff Bloom Custom Builders of Round<br \/>\nLake is building single-family homes on another<br \/>\nsection of the Park Place property. So far a<br \/>\ndozen 2-4 bedroom homes, ranging in price from<br \/>\n$273,000 to about $313,000 have been built in<br \/>\nthis community, and a 13th is under contract,<br \/>\naccording to Diane Van Alstyne, the Realtor<br \/>\nrepresenting the property for Coldwell Banker<br \/>\nPrime Properties.<\/p>\n<p>Photo Courtesy Lecesse Development Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> This is a rendering of a four-unit carriage building that will be included in the 500-plus unit Grand Ville at Park Place housing project planned in Malta by Lecresse Development. BY BARBARA PINCKNEY Developers from Florida and western New&#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],"tags":[57,63,85,93],"class_list":["post-16796","post","type-post","status-publish","format-standard","hentry","category-business-news","tag-business-news","tag-construction","tag-housing","tag-malta"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>500 Housing Units In Malta Are Planned By Developers From Florida, Western NY - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/05\/500-housing-units-in-malta-are-planned-by-developers-from-florida-western-ny\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"500 Housing Units In Malta Are Planned By Developers From Florida, Western NY - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"This is a rendering of a four-unit carriage building that will be included in the 500-plus unit Grand Ville at Park Place housing project planned in Malta by Lecresse Development. 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