June 8, 2022
About 100 residential apartments — most likely not condominiums — will be coming to downtown Glens Falls, under the latest, still in draft form, plan for the Downtown Revitalization Initiative. The DRI is the initiative that will redevelop the area surrounding the intersection of Elm and South streets in Glens Falls.
“I think they’re all going to be rental because I don’t think the condo model has worked in Glens Falls,” Mayor Bill Collins said Tuesday.
Some of the development funding comes from a $10 million grant the city won from the state to promote downtown redevelopment. The mayor said he expects Spring City Development Group, an arm of Bonacio Construction, to spend about $28 million more as the preferred developer of the project.