Bonacio projects ‘all green light’; GF must fulfill contract to give it free parking

By Cathy DeDe, Chronicle Managing Editor

“It’s all green light,” says Glens Falls Mayor Bill Collins, now that Governor Kathy Hochul approved $6.6-million in Home and Community Renewal tax credits for Phase Two of developer Sonny Bonacio’s Spring City projects on South and Elm Streets. It also activates Phase One.

“I think they’re full speed ahead. We believe that Phase One should break ground in June,” said the mayor.

Phase One includes purchase and renovation of the former Hotshots building on South Street and the so-called Incubator building on Elm Street (both owned by the Glens Falls Local Development Corporation), as well as renovation of the former Sandy’s Clam Bar that Bonacio Development purchased separately.

“They want to be all done with this by the late fall,” Mayor Collins said, “tomatch up” with the Market Center now under construction adjacent to the incubator building.

Phase Two, Bonacio’s 70-unit apartment and mixed use complex, “should break ground by the fall or the end of the year,” the Mayor said.

He said he aims to have a public meeting about the project later this month, likely on a Wednesday or Thursday, April 18-19 or 25-26.

City must give 110 parking spaces

In its contract with Spring City/Bonacio, the City of Glens Falls committed to provide 110 parking spaces for the two projects, 35 for the Phase One renovations and 75 for Phase Two apartments/mixed use, at no charge to Bonacio.

A plan fell through to erect a garage on adjacent land owned by Glens Falls National Bank.

Mayor Collins says the city pledged, “If that doesn’t work, we’ll find you 110 spaces so that you can bring 100 apartments and 40 jobs to our downtown.”

The mayor says the City “is talking with” the owners of 333 Glen Street to lease the spaces in its parking garage, and, he said, possibly “to work on a public private partnership to add two floors” to the garage, which he said it is built for.

Mr. Flagg pointed to $1.5 million in additional state money to fund a parking structure downtown that was promised in 2018 “and still available.”

He and the mayor said adding two levels to the 333 Glen garage will cost more than the $1.5 million.

They did not have a figure but said, “It’s cheaper than building a new building.”

Mayor Collins said, “We have other options,” to provide the spaces — including

• the Elm Street surface parking lot;
• the privately owned parking garage on Clinton Street next to The Mill, where the city owns 50 spaces it currently leases “for next to nothing”;
• the Park Street garage, which the City owns and which was also built to accommodate two more floors.

“But right now I’m trying to work with 333 Glen Street,” Mayor Collins said.

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