Ed Moore buys former TD Bank land, $1.2-million

By Mark Frost, Chronicle Editor

Queensbury Hotel owner Ed Moore has purchased the former TD Bank property next-door for $1.2-million. He told The Chronicle the closing occurred Thursday, Dec. 12.

Mr. Moore said he has no specific plans for the property he said is nearly two acres stretching from Maple Street to Washington Street.

“Someday at some point we’ll probably do something with it — expand, do something.

“The first thing was just to secure the property because it’s so close to the Q and the Q is doing amazingly well and we can use the space — and also what would go next door if we didn’t do it?”

He said another priority was keeping the property on the tax rolls. “Many people called me” expressing concern about “taking this off the tax base. Listen, I’m gonna be the guy paying the taxes now but I truly believe it’s the best thing for the community.”

“Even two-three years ago,” Mr. Moore said he approached TD Bank, “trying to see where it was at” on selling the land. This year, with the drive-through branch shuttered, it came up for sale.

Mr. Moore says, “The morning it went on the market I got a phone call and I said: Yes! What do you want? What do you need? I said: Yes!”

He said his first bid was “under a million. Then I thought, you can’t afford to lose this. Stop doing your games. Stop being a real Eddie Moore, you know, always wanting a bargain. I went back and upped the ante.” He bid $1.2-million.

He said the City suggested making a joint bid. He said they met and talked, but “it just didn’t work out and I got a feeling I need to stand alone and do my thing.”

In September the City itself tried to buy the property offering $1.2-million but the Common Council narrowly rejected the mayor’s plan. (See sidebar.)

Going into the meeting, Mr. Moore says, “I knew it was a touch and go thing but I had the confidence that it wasn’t gonna go that way but I didn’t know for sure.”

Mr. Moore said he was on the phone the next morning to TD Bank’s Realtor and his $1.2-million bid was shortly accepted. “It was a done deal, a cash deal.”

Asked twice if he’s excited about the purchase, Mr. Moore really wasn’t. “I’m starting to get excited now.” He said they’re just starting to mull possibilities.

There’s nothing imminent. “We’re thinking, we’re thinking, we’re thinking. Would we put some kind of luxury townhouse overlooking the park, something really classy? Maybe people would rent it or purchase — the Adelphi [in Saratoga] has just done that.

“And maybe have a walkway into the hotel where there’s fine dining at Park 26 or the pub or a nightcap or whatever people might like — and a good fitness room and pool, so would this really be like a luxury type thing that would be another step up for the community.”

He cites the high demand for apartments in Glens Falls. “I’m not sure about all the one-bedrooms. We need some two-bedrooms. We need some young families, some room for something like that.”

Mr. Moore said he thinks in terms of a multi-story building as tall as the hotel. The Chronicle asks yet again about the hotel’s envisioned rooftop bar.

“With what we just purchased,” Mr. Moore says, “would that be more conducive to it over there?”

Mr. Moore enthuses that the property fronts City Park across Maple Street, as the hotel does.

He praises upgrades the Business Improvement District has made to the park but expresses alarm that some people have become wary or outright afraid of walking through the park amid the “day spenders.” He says the city must address it.

Mr. Moore focuses on the opposite end of his new land purchase too. “I don’t want a parking garage there facing Washington Street. The homes on Washington, they’re being fixed up little by little. Is this what we want back there, just a big wall, a concrete block?”

Mr. Moore began his career with an excavating business on Staten Island. After relocating, he developed outlets north of Northway Exit 20 — first French Mountain Commons, then the Log Jam Outlets.

Later his focus turned to downtown Glens Falls. He bought the Queensbury Hotel — “in March it will be nine years” — then the J.E. Sawyer building across from the Cool Insuring Arena and now these two acres next to the hotel. He said they’ve made major investments improving every aspect of the hotel, most recently “we redid the pool and all the boilers.”

“They’re three of the prize properties,” Mr. Moore says of his downtown purchases. “I wish I was 20 years younger.” He turned 79 on Tuesday.

The hotel and a Fairfield Inn that Mr. Moore built at Exit 19 are managed by Spruce Hospitality, a partnership of his son Zack and Tyler Herrick, the Queensbury’s general manager.

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