By Susan Elise Campbell<\/p>\n
A new project in the Luther Forest Technology Campus in inching closer as Scannell Properties awaits approval on a zoning amendment that would allow it to build five structures on the campus\u2019 most desirable acreage. <\/span><\/p>\n \u201cScannell connected with the owners of the tech campus property and started learning about its history and vision to see how we might get involved as a speculative developer,\u201d said Zachary Zweifler, development manager at the Indianapolis-based company.<\/span><\/p>\n Job creation from potential is estimated at 2,500, but they may have little to do with microchip production nearby, officials said.<\/span><\/p>\n Of the 1,400-plus acres that have been available for new projects since GlobalFoundries opened its doors, Scannell is focusing on\u00a0 <\/span>245 cleared acres off Stonebreak Road. There is infrastructure in place and it represents the last remaining brownfield space, according to Zweifler.\u00a0<\/span><\/p>\n The Luther Forest Technology Campus was designed to help establish New York as a leader in the semiconductor industry and is thus zoned for technology use. Scannell\u2019s vision is to \u201copen up the park to additional areas, such as research and development, light manufacturing and warehousing,\u201d Zweifler said.\u00a0\u201cThe long vision is to broaden the scope of the park and this seemed to be the next logical phase of development.\u201d<\/span><\/p>\n \u201cWe intend to purchase the land for speculative investment,\u201d he said. \u201cBut the sale is conditional on approval of an amendment to the zoning requirements spelled out in the PDD.\u201d<\/span><\/p>\n Zweifler said the formal application for amendment was submitted last fall and the process typically takes six months.\u00a0<\/span><\/p>\n \u201cScannell drew up some conceptual plans to help the towns of Malta and Stillwater visualize our proposal,\u201d he said. \u201cThese site plans also help assess individual users, the prospective tenants, going forward.\u201d\u00a0<\/span><\/p>\n Scannell has asked for several amendments to the Planned Development District, said Darren O\u2019Connor, supervisor for the town of Malta, the agency taking the lead on the review. <\/span><\/p>\n O\u2019Connor said the next steps include EPA reviews, traffic studies and whatever else the Town Board requires to make a final decision.<\/span><\/p>\n \u201cThe application will be examined against SEQRA (the State Environmental Quality Review Act) before adopting any changes,\u201d he said.<\/span><\/p>\n SEQRA requires the all state and local government agencies consider environmental impacts against economic and social factors.<\/span><\/p>\n \u201cThis review will show what changes are possible and are not possible,\u201d O\u2019Connor said.<\/span><\/p>\n Some other developers previously had a variety of ideas for the available space, but O\u2019Connor said he is \u201cvery happy to see this application.\u201d<\/span><\/p>\n \u201cThis one application is very active and I believe we are working quickly\u201d while performing all due diligence, he said.<\/span><\/p>\n \u201cOne concern is the footprint, because warehouse structures are large and changes to the footprint need to be permitted,\u201d O\u2019Connor said. <\/span><\/p>\n Speaking to the community impact of the proposed structure in Luther Forest Technology Campus, Zweifler said Scannell projects will invest $255 million to be equally matched by the tenants.\u00a0<\/span><\/p>\n The firm expects 2,500 \u201cfamily sustaining\u201d employment opportunities with a median income of $55,000, which is close to the median in Saratoga County, according to Zweifler. Additionally, more than 3,000 indirect support jobs could ultimately be created.<\/span><\/p>\n If the amendment is granted, Scannell will begin bidding out construction locally and beyond.<\/span><\/p>\n \u201cWe will have proposals from local, regional and national contractors representing an estimated 940 jobs over five years,\u201d Zweifler said. \u201cWe place an emphasis on local trades, regardless of who the general contractor is, and who businesses are maybe 10 to 15 minutes from the site.<\/span><\/p>\n \u201cScanned believes in the area and is going to purchase the land,\u201d said Zweifler. \u201cThis is a good place to invest.\u201d<\/span><\/p>\n \u201cScannell Properties has been developing industrial areas for 31 years and has decades of experience in the Capital Region,\u201d Zweifler said.<\/span><\/p>\n The company built the ADT warehouse in West Albany Industrial Park in 2013 and the 1 million-square-foot Amazon fulfillment center in Schodack that opened September. The developer also has a building for sale on speculation next to Amazon on Route 9.<\/span><\/p>\n Their projects are scattered among 43 other states, in Canada and, since 2018, in Europe.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" By Susan Elise Campbell A new project in the Luther Forest Technology Campus in inching closer as Scannell Properties awaits approval on a zoning amendment that would allow it to build five structures on the campus\u2019 most desirable acreage. \u201cScannell connected with the owners of the tech campus property and started learning about its history […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-36048","post","type-post","status-publish","format-standard","hentry","category-home-real-esate"],"yoast_head":"\r\n