December 1, 2016
Chris Maddalone of Maddalone & Associates Inc. will invest around $10 million to develop Reserve at Townpath Trail, an 80-unit rental complex in Schenectady, NY. Pending approval from the Schenectady Zoning Board of Appeals, the development would go north a little more than a mile away from the Rivers Casino & Resort, which will open in February. Maddalone is looking toward a March groundbreaking, with completion by July.
Five buildings are already complete on the acreage that spans Van Vranken Avenue, Northend Drive, St. Jean Place and Sara Court. Those buildings were part of a 45-unit townhome development called Maxon Pointe, which stalled in 2008 during the Great Recession. Reserve at Townpath will incorporate the completed buildings.
The development will consist of four apartment buildings with 20 units each, four duplexes and a single-family townhome.
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