A pair of projects associated with Schenectady’s Downtown Revitalization Initiative (DRI) aimed at enhancing recreational opportunities and improving pedestrian access within the city are expected to break ground later this year.
Redburn, stitching up ownership of Schenectady block, plans medical offices
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Jeff Buell, principal of Redburn Development Partners. (Will Waldron/Times Union)Will Waldron/Albany Times Union
SCHENECTADY A developer’s takeover of a strip of downtown real estate is nearly complete with the pending acquisition of the Bank of America complex.
Redburn Development Partners aims to renovate the building at 500 State St., which contains multiple entrances and storefronts, for use as medical office space.
Bank of America would remain as a tenant.
The developers signed a purchase agreement last year pending the release of state economic development grant funds.
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