{"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
\n
\"park\n<\/div>\n
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

BY BARBARA PINCKNEY<\/p>\n

Developers from Florida and western New
\nYork are close to starting work on Grande Ville
\nat Park Place, a 500-plus unit residential community
\nnear GlobalFoundries.<\/p>\n

Lecesse Development Corp., of suburban
\nOrlando, and Pittsford-based Morgan Management,
\nacting through a joint venture called
\nLecmor Multifamily LLC., received final project
\napproval from the Malta Town Planning Board
\nlast fall.<\/p>\n

They plan to build 512 upscale rental units
\non a 41-acre site on Landau Boulevard, which
\nis just off Route 9 near Stonebreak Road, and
\nabout three miles from GlobalFoundries.<\/p>\n

John Flynn, director of acquisitions for
\nLeCesse, said trees are being cleared from the
\nproperty and site work should get underway
\nwithin 60 days. It will then take 16 to 18 months
\nfor the completion of Phase I of the project,
\nalthough he indicated that the first units might
\nbe available for rent in less than a year.<\/p>\n

The developers are close to naming a contractor
\nfor the project, but Flynn declined to provide a name.<\/p>\n

Phase I will consist of 292 one-, two- and
\nthree-bedroom units in 18 buildings. Flynn said
\nthere will be three types of buildings: Traditional
\n“higher density,” elevator-service apartment
\nbuildings with 30 or 32 units each and attached
\ngarages; two-story “carriage” buildings, each
\nwith four units with eight garages; and traditional
\ntownhomes with “true streetscapes” in
\nfront and detached garages in back.<\/p>\n

Amenities include 9-foot ceilings, granite
\ncountertops, tall cabinets and upscale appliances
\nin the kitchens, and full-size washers
\nand dryers.
\n“Finishes will be very similar to what you
\nwould find, quite frankly, in a single-family
\nhome,” Flynn said. “If you’ve seen the other
\nnewer, nicer, upscale apartment complexes in
\nSaratoga County–it will be on par with those.”<\/p>\n

He said rent will be market-based, but is currently
\nestimated at between $1,300 and $2,200
\na month, depending on the size of the unit, the
\ntype of building it is in, and garage access.<\/p>\n

Lecmor also will take a 5,500-square-foot
\ncommunity center, originally built when Park
\nPlace was intended as the site of single-family
\ncondominiums, enlarge it to about 9,000 square
\nfeet, and renovate it for use by its tenants.
\n“It will be a traditional multi-family clubhouse
\nwith first class amenities, including a
\nfitness center, a business center and an Internet
\ncaf\u00c3\u00a9,” Flynn said.<\/p>\n

Both LeCesse and Morgan have other properties
\nin the Capital Region. LeCesse, which
\nhas built more than $2.5 billion in multifamily
\nproperties since its founding in 1952, owns The
\nLandings, a 240-unit community in Clifton Park.
\nMorgan’s holdings include the apartment communities
\nof Old Coach Manor in Queensbury,
\nHillcrest Village in Niskayuna and Park Guilderland
\nin Guilderland Center.<\/p>\n

Flynn said the partners were attracted to
\nthe region by the growth of the nanoscience
\ntechnology industry.<\/p>\n

“Independent of the GlobalFoundries project,
\nwe like that I-87 Corridor between the [Nano]
\ncollege [in Albany] and Saratoga Springs,” he
\nsaid. “We have been looking to develop in the
\nmarket, we just hadn’t found the right opportunity.
\nOnce this opportunity came along, looking
\nat the front door of GlobalFoundries, it was very
\nappealing to us. We are very excited.”<\/p>\n

Park Place at Malta has been under development
\nfor several years. It was originally
\ndesigned, by a group that included developer
\nVictor Gush, to hold more than 230 multi-family
\nhomes, 55 single-family homes and 115,000
\nsquare feet of commercial space. Lecmor purchased
\nthe 41 acre parcel it is using in 2013.<\/p>\n

DeGraff Bloom Custom Builders of Round
\nLake is building single-family homes on another
\nsection of the Park Place property. So far a
\ndozen 2-4 bedroom homes, ranging in price from
\n$273,000 to about $313,000 have been built in
\nthis community, and a 13th is under contract,
\naccording to Diane Van Alstyne, the Realtor
\nrepresenting the property for Coldwell Banker
\nPrime Properties.<\/p>\n

Photo Courtesy Lecesse Development Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"

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…<\/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":"\r\n500 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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