ROME, N.Y. — A Saratoga Springs firm plans to develop a new, mixed-use apartment community with office and amenity-oriented space at Griffiss Business and Technology Park in Rome.
Bonacio Construction Inc. will purchase 4.2 acres of land on State Route 825 for the project’s first phase, the office of Gov. Andrew Cuomo said in a news release.
It will include two, four-story, mixed-use buildings with street-level commercial space and 84 units of upper-level, market-rate apartments.
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The estimated cost of the project is $20 million, Cuomo’s office said.
Empire State Development will provide a capital grant of up to $1.25 million to Griffiss Local Development Corporation to support this mixed-use development.
The Mohawk Valley Regional Economic Development Council had recommended it as a priority project during the eighth round of Cuomo’s regional-council initiative, per the release.
Construction will start this fall with “substantial completion expected in one year,” Cuomo’s office said. New York State recently completed construction along the stretch of state Route 825 that fronts this development site. Last year, the Griffiss Park Landowners Association installed new sculptures in the two roundabouts along the State Route 825 corridor.
“Our vision for this site was to position this critical commercial corridor for high quality mixed-use development that is connected with Rome and is linked to the network of existing and new recreational trails that have been developed in and around Griffiss,” Steven DiMeo, president of Mohawk Valley EDGE, said in the release.
Griffiss Business and Technology Park has “grown steadily” over the past 24 years, but not only has the park grown, “it has diversified,” Elis DeLia, chairperson of the Griffiss Local Development Corporation, said.
“Park tenants include everything from manufacturers to [information technology]/cyber-security companies and one thing they all have in common is the need for expanded amenities for their employees that are not offered in the current marketplace. To capitalize on this need we partnered with the City of Rome to highlight our development opportunities, and we are excited that Bonacio Construction will be taking on this value-added project for Griffiss Park.”
Contact Reinhardt at ereinhardt@cnybj.com
