GLENS FALLS — A project to build a mixed-use apartment and retail building on Broad Street cleared a hurdle on Tuesday, as the Planning Board approved the site plan, but no shovels will be digging into the ground right away.
Regan Development Corp. intends to build two connected, four-story buildings on about 4 acres of land, with frontage on Broad Street between Steve’s Place restaurant and Hill Electric Supply Co.
The Broad Street Commons project would include 73 mostly one- and two-bedroom apartments, with about 6,300 square feet of retail space on the first floor of the building closest to Broad Street.
Whether the project ultimately continues will depend on whether it receives tax credits from the New York State Homes and Community Renewal Office, according to Judy Calogero, a consultant for the project.
“We would not hear from the state until May 15, 2019. They get a hundred of these (applications), and we’ll be competing against all of those,” she said.
The tax credits help lower the mortgage for the developer, so affordable rents can be charged.
Calogero said the developer is already having preliminary conversations about the four retail spaces that are part of the project. Medical office space has been mentioned as a possibility.
The board reviewed changes to the site plan and suggested adding one more tree to screen the Broad Street side, for a total of four. The plans were revised to include adding security cameras in the parking lot and increasing lighting in the playground area. Regan also has agreed to contribute $50,000 to the construction of a sidewalk to improve pedestrian connections to Big Cross School.
The board offered some feedback on the architectural plans, particularly the use of cultured stone on the buildings’ exterior.
“I think architecturally it doesn’t really fit with what our city is, and people, especially local developers, have spent a ton of money restoring these old buildings and really making them come to life,” said board member Brigit Culligan.
The board will review the architectural plans at its meeting next month.