STILLWATER AND MECHANICVILLE, Oct. 22 and 24 – The Mechanicville-Stillwater Industrial Development Agency did not vote on a requested Payment in Lieu of Taxes (PILOT) plan for the re-crafted Esplanade project, following Public Hearings in the two municipalities. A meeting to do so was expect in the coming week.
Empire Warehousing Corp. estimates a project cost of approximately $55 million on 11.3 acres on North Main in the City, including ten percent within the Town of Stillwater, now returning to the IDA as a residential rather than mixed use project, with 294 apartments and a 50-seat café with community space totaling approximately 12,000 s.f. (of which the café would be 1,500 s.f). About 4.7 acres, or 42 percent are planned as green space.
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