Champagne Houses on a Beer Budget

Posted on TimesUnion.com
By DENNIS YUSKO, Staff writer
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SARATOGA SPRINGS -- A local developer has a different vision for homeownership near downtown: housing that's affordable for the middle class.

Wilton-based Olsen Development wants to build 96 town houses on almost eight acres behind the Price Chopper on Route 50 that would sell for $150,000 to $160,000 each if construction starts soon, company president Garry Olsen said.

The 1,200-square-foot homes would be grouped in clusters of four between 27 Aletta St., and 25 New St., and be marketed to teachers, firefighters and ``the clerk waiting on you at the bank.''

``I really felt what's missing in Saratoga Springs is starter homes,'' Olsen said Thursday. ``There really isn't an opportunity for young families and couples who work and play in Saratoga Springs to live there.''

The property is owned by William McNeary, but is under contract to sell to Olsen Development. Olsen proposes special zoning to allow him to develop the property, which is zoned warehousing and contains several old tractor-trailers and vacant land.

The town homes would have three bedrooms, 1 1/2 baths and a single-car garage, Olsen said. All units would have to be owner-occupied, he added.

The project is named ``Railroad Place,'' which is not to be confused with the swank downtown address that recently became home to upscale condominiums.

Several new condominium properties have been built off Broadway in recent years. Construction continues on Park Place and 38 High Rock, where single residences range from $400,000 to $1.5 million.

On Tuesday, the City Council referred the Olsen proposal to the city and Saratoga County planning boards for review. Public Works Commissioner Anthony Scirocco said he had some concerns about the project, without elaborating.

Affordable housing advocate Celeste Caruso said at Tuesday's meeting that the project would fill a void in the city's real estate market.

But Elizabeth Todd, whose property is near the proposed site, said neighbors are concerned that, if approved, the town homes would upset the area's water table and possibly create flooding.

The proposal will return to the City Council after the planning boards make conclusions and recommendations.