EYEING THE ECONOMY
Developers interested in improving downtown Cohoes
N.Y. » Mayor Shawn Morse said that his administration continues to gain interest from developers wanting to develop the economy and make improvements in the downtown and surrounding area.
The latest economic development interest is to possibly turn the old Cohoes Movie Theater on the corner of Remsen and White Street into apartments and commercial space, the old movie theater was demolished years ago and has been a vacant lot since then.
Morse said that these latest potential development ideas are just the latest of recent economic development going on
throughout the city.
“We’re working to sell the story of our city and we’re trying to get investors to invest,” said Morse. “There certainly is some interest in that location on White Street, but all the details for it have not been worked out yet.”
Morse said the city did recently receive a letter of intent from a developer to purchase the land and to put a development there, but noted that nothing has been finalized at this location yet.
Another ongoing economic development project taking place in the downtown area is the renovation of the old Cohoes Hotel, which is being transformed into apartments. Morse also mentioned the ongoing Mosaic Village project at
the intersection of Ontario and Sargent streets and those apartments will be a mix of affordable housing and apartments for adults on the autism spectrum preparing for independent living.
“Economic development has and will remain the number one priority for my administration and I believe that bringing Mike Jacobson to the table as the city’s Director of Economic Development has been the best investment that I’ve made,” said Morse.
Residents near the new luxury Hudson Square Apartments near Van Schaick Island will also notice some renovations going on out near the pond area this summer.
“Part of the negotiations was that the developer [Prime Companies]
would invest in the area around the pond and that they would clean it up for us and that they would invest $100,000 for it,” said Morse.
As part of the agreement Prime Companies will be working on the improvements throughout the summer with a goal of having it completed by the end of summer.
Some of the new features around the pond area will be new grass, landscaping, trees, LED lighting, sidewalks and paths, along with a picnic pavilion and amphitheater.
“We are also going to have fishing docks out there and once they clean it up more, it’s going to be a beautiful addition to our city,” said Morse. “The pond is already
beautiful. But imagine it with all these new amenities. It will just be a great community space for everyone.”
Morse said that it’s always important to negotiate with developers to bring the best deal to the community.
“I think anytime that you can get a developer whose coming into your community to invest in the amenities that only make our city much more beautiful and gives the people of Cohoes a reason to be extremely proud of their community, you want to take advantage of that,” explained Morse. “The pond has always been a staple of Van Schaick Island and it’s always been beautiful, but that will be magnified by 50 times now that the work is going into that.”