Rensselaer riverfront demolition begins
Crews started demolishing the former Rensselaer High School today to clear room for a $230 million to $280 million mixed-use development that is viewed as the means to rejuvenate this small Hudson River city.
"This is the start of the revitalization of Rensselaer," Mayor Dan Dwyer said.
Demolition will be completed this fall followed by the pouring of the first foundations for deLaet's Landing. The name of the project comes from the historic name for the site from 1609 to 1620 when it was known as deLaet's Burg.
Marx Properties Inc. of Troy's plans for the project call for a first phase of 200 residential units, 360 parking spaces and 90,000 square feet of retail space on 24 acres along the river. The entire project calls for 250,000 square feet of office space, 165,000 square feet of retail space, 236,000 square feet for a hotel and 630,000 square feet of residences including town homes and river-view condominiums.
Jeff West, vice president of Marx Properties, said it will take eight to 10 years to build the entire project. The first people to occupy space are expected to move in during the fall of 2009.
"It's been four years in the coming. We had to build a new school to get here," West said about the construction of the new Rensselaer School District Campus.
"This project is long overdue for the city of Rensselaer. It is a perfect example of both public and private entities coming together successfully for a common goal," West said in a statement.
While local government and development officials marked the start of demolition, representatives of RealtyUSA's Capital Region office were in Las Vegas marketing the project at the International Conference of Shopping Centers trade show.
"We have appointments to meet with interested prospects there. We feel it's a great opportunity with having retail and residential in one space," said Albert J. Picchi, vice president and general manager of RealtyUSA in Clifton Park.
County Legislator Michael Stammel, R-Rensselaer, said the start of demolition brought back a lot of old school memories for him. Stammel attended the high school with the class of 1972.
"A lot of good times. A lot of good young people," recalled Stammel
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