I nitial plans from Mitchell Associates Architects PLLC of suburban Albany, which specializes in fire station design, show a two-story fire station with traditional architectural elements intended to blend in with the surrounding neighborhood. The IURA is the city department that works out the terms and then (if deemed satisfactory) executes the sale of city-owned property.
The second voting item authorizes the transfer of 309 College Ave to the IURA for the purpose of undertaking a negotiated acquisition and sales agreement. The first voting item authorizes the Mayor to exercise the option agreement for purchase and sale of the properties in question.
The PEDC will be voting on a pair of items specific to the fire station proposal. This translates to an extra $87,000 in new city-only property taxes each year, and $1,294,000 over 20 years. On the revenue site, the city expects the Novarr-Proujansky redevelopment of 309 College Avenue would be valued at at least $8.8 million, given the price per square-foot of comparable redevelopments on adjacent blocks (about $1,033/square foot of land). The city sees the net cost as $1,449,000 in its balance sheets because that’s $1.5 million they wouldn’t have to pay towards renovating the existing station just to keep it operational in the short-term. Initial estimates place construction of a new station at $9,049,000, to be covered with the sale proceeds, a $1 million grant from New York State, and $2,949,000 in funds to be raised by the city, likely through the sale of municipal bonds. The developers give them the land, but the city will have to use its own funds to build the new station. It should be noted that while the land would be given to the city as part of the deal, the construction of the new fire station would still be the city’s responsibility and expenditure. An “internal team” reviewed nine different sites around the area for a new fire station, but determined that for accessibility, safety, cost and other considerations, the Elmwood/Dryden corner site was the only one suitable for a new fire station.
DRYDEN TRANSFER STATION PLUS
The memo prepared by city planners states that negotiations have been ongoing for some time with the developers about a cash plus land acquisition deal. Property records indicate 403 Elmwood was purchased by an LLC owned by Proujansky and Novarr for $875,000 in December 2021, while 408 Dryden is assessed at $475,000 but was bought by Proujansky and Novarr for $875,000 on April 13. The new station would be built on the site of two apartment houses owned by the developers at 403 Elmwood Avenue and 408 Dryden Road, a few blocks to the north and east of the current station. As negotiated, the city would sell 309 College Avenue to Proujansky and Novarr for $5.1 million plus the land on which the new fire station would be situated.
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