Courtesy Bonacio
By Paul Post
Commercial and residential tenants are ready to occupy three newly rehabilitated buildings that are transforming South and Elm streets in downtown Glens Falls.
Bonacio Development is putting the finishing touches on the former Sandy’s and Hot Shots taverns and on an adjoining three-story building behind Hot Shots at 36 Elm Street.
“They’ll all be ready for occupancy around January 1,” company President Larry Novik said.
Each of the three-story buildings will have first-floor commercial space and apartments overhead. Meanwhile, steel beams and girders are rising for a large five-story structure next to and behind the former Sandy’s building, scheduled for completion in early 2027.
SUNY Adirondack is slated to lease ground-floor space there for a health care workforce development program, including a mock exam room. The remaining space, and four stories above, will be dedicated to mixed-income affordable housing.
The apartments are designed to serve households across a range of income levels—generally between 30 percent and 70 percent of the area median income.
“We believe this approach, tying rates to the area median income, is a good way to create a community with a wide mix of residents,” Project Manager Steve Licciardi said.
Bonacio, a Saratoga Springs-based firm, is developing this project as well.
“We’ve built a number of affordable housing projects, but this is the first where we’re also working as the developer, so it’s been an interesting process,” Novik said. “We’re excited to bring this housing type to Glens Falls.”
The project has been made possible through a partnership with New York State Homes and Community Renewal.
The new five-story building, called South Street Apartments, is a $26 million investment. The Sandy’s, Hot Shots, and 36 Elm Street projects represent an additional $7 million.
They follow the recent opening of The Ed, a new event space on South Street that now houses the Glens Falls Farmers Market.
The entire area has been developed with a sense of connectivity, making it easy for people to walk from one building to another. A new second-story breezeway connects the Hot Shots building to 36 Elm Street.
Apartments in the Sandy’s, Hot Shots, and Elm Street buildings will be priced from $1,100 to $2,200. The Sandy’s building has four three-bedroom units, Hot Shots has four two-bedroom units, and 36 Elm Street features a mix of 10 studios, one-bedroom, and two-bedroom units.
All three buildings, which date to the late 19th and early 20th centuries, were rehabilitated through a partnership with the state historic tax credit program, which aims to give new life to old structures.
Bonacio painstakingly removed, restored, and reinstalled the original tin ceilings. The old wooden floors have been given a gleaming, high-polished finish.
Each tastefully designed apartment has new appliances and baths.
A small business called Downtown Dog Spa and Boutique is scheduled to move into the Hot Shots building’s first-floor space.
The Sandy’s building’s ground floor is best suited for a restaurant. An announcement naming a prospective tenant is expected soon, Novik said.
The City of Glens Falls is expected to lease first-floor space at 36 Elm Street for a market that will give area vendors an opportunity to showcase and sell their goods.
In addition to Bonacio’s projects, developer Chris Patten is helping revitalize the neighborhood by rehabilitating a large, previously vacant three-story building at the corner of South and Elm streets, directly across from Hot Shots.
Katy’s Wine and Whiskey Bar and Jud’s Tavern are scheduled to open when work on the three-story, mixed-use building—with 20 second- and third-floor apartments overhead—is completed this winter.
The building has been painted a handsome navy blue and white and will be highlighted at night with multicolored lighting along the roofline.
Nearby, Patten is also redeveloping 10 Broad Street, the site of a former Rite Aid store, with a three-story structure comprising a 56-space ground-floor parking garage and 24 high-end apartments above.
His two projects combined total $11 million—$5 million for 46-56 South Street and $6 million for 10 Broad Street. The latter project is called The Point.