BRIEF

Mar 13, 2010 — Times Union

Chris Churchill

Mar. 12, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- SCHENECTADY -- The Schenectady Metroplex Development Authority is buying four downtown buildings, including a parcel it considers key for the ongoing revival of State Street.

Metroplex is paying $250,000 for the former Foster Hotel at 508 State Street and the other nearby buildings, after beginning eminent domain proceedings against the owners of the structures.

The economic development agency has long wanted to see progress at the Foster, which is on the National Register of Historic Places, and hopes to find a developer willing to turn the property into a retail and residential complex.

"It's a very significant, beautiful facade," said Ray Gillen, the agencys chairman. "It's the last piece of the puzzle on the block."

To read more, comment and see a photo of the building, go to Real estate: Places and Spaces

Newstex ID: KRTB-0007-42850260