Offices proposed for Park South
Columbia Development plans 5- story structure near Albany Med
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All current/recent developments (this project highlighted), showing how fast the area is changing:
Link to above map with notes:
http://maps.google.com/maps/ms?ie=UT...01045&t=k&z=17
By CHRIS CHURCHILL, Business writer
Friday, April 25, 2008
ALBANY -- A big Albany developer is proposing construction of an office building in the Park South neighborhood, near Albany Medical Center.
The five-story structure by Columbia Development Cos. would go up on the southeast corner of New Scotland and Myrtle avenues, and the medical center likely would use part of the building to house its administrative offices.
Michael Yevoli, the city's planning commissioner, said he considers the Columbia office project "significant in that it could continue the development of the medical center corridor" and build momentum for other Park South projects.
The proposed development, if approved by the Planning Board, would occur in an area experiencing a wave of investment -- following years of disinvestment that left parts of the neighborhood tattered.
In 2005, Winn Development, a Boston company, was chosen by the city to carry out a $65 million, six-year plan to demolish 237 apartments and homes and build new ones in a nine-block area near Albany Med. The firm is rehabbing 18 row houses on nearby Knox Street.
Last June, Columbia Development and BBL Construction Services LLC completed construction of a $20 million Hilton Garden Inn on New Scotland Avenue, across the street from the hospital. The building includes a Starbucks and other eateries on its ground level.
In January, the Albany Local Development Corp. received $3.3 million in state funding for a large development it is proposing for the northeast corner of Myrtle and New Scotland avenues. The two-building project would also be built by Columbia Development and would add 120,000 square feet of retail and office space to the neighborhood.
And in February, the medical center announced a $360 million expansion that includes a new six-story building and the addition of 116 beds.
Gregory McGarry, spokesman for Albany Med, said the rapidly growing hospital is likely to need additional administrative space, despite that expansion. He said the hospital has been talking to Columbia about leasing space in the proposed building, but has not formally agreed to do so.
Joe Nicolla, president of Columbia Development, could not be reached for comment Thursday. It is unclear how much the company plans to spend on the development, or when it intends to launch construction.
A one-story building would be demolished under Columbia's plan.
On Wednesday, Columbia won approval from the Albany Board of Zoning Appeals, necessary because
the building does not meet the required 20-foot minimum setback, exceeds the maximum allowable lot coverage of 60 percent and does not provide the required 308 parking spaces.
(In other words... it'll have urban characteristics!)
http://www.timesunion.com/AspStories...date=4/25/2008