SCHENECTADY – The Schenectady City Council approved the sale of 151 Lafayette Street to J.T. Pollard of Re4orm Architecture Monday night.
Mayor Gary McCarthy said, "We appreciate the City Council's support for our plan to sell 151 Lafayette Street. The sale of the building brings $115,000 to the City. It also sets the stage for the building to be revitalized by J.T. Pollard, who has played a leading role in many development projects in downtown Schenectady."
Re4orm Architecture is based on Clinton Street in downtown Schenectady. Mr. Pollard is President of the firm which has designed many of the leading development projects in downtown Schenectady including Center City, Bow Tie Cinema, SCCC Student Housing, the downtown Library expansion, loft apartments at 409 State Street and the new Transfinder Headquarters next to Proctors.
The Franklin Plaza building was taken in tax foreclosure by the City of Schenectady in September 2012.
The building features a mix of retail space and large garage bays that could be converted into a number of new uses that would add to ongoing downtown revitalization plans.
The building is located on the corner of Franklin and Lafayette Streets, close to City Hall and just two blocks from the Proctors Block.
The new owner plans a major renovation of the building adding to the redevelopment of downtown.
Pollard said, "We look forward to making this building an asset to the downtown area."