January 08, 2010 | NEWS ARTICLES
Schumer Helps Make Federal Funds Available to Revive ‘Street of Dreams’
By Paul Post | The Saratogian | Link to article
GLENS FALLS — New Way Lunch owner Pete Gazetos served up the city’s most famous treat, a "Dirty John’s" hot dog, to U.S. Sen. Chuck Schumer on Thursday.
This spring, Gazetos plans to renovate the exterior of his decades-old business on South Street, where Schumer is making $1 million in federal funds available for infrastructure improvements such as storm sewers, new sidewalks, Victorian lighting and trees.
By giving the so-called "Street of Dreams" a facelift, it’s hoped that other businesses will decide to invest and locate there as well.
"You re-do a street and it brings in private dollars," Schumer said. "It’s really a catalyst. Glens Falls is a city with grit. It’s had some decline, it’s really come back. It’s sort of a model for middle-sized cities. If it can happen in Glens Falls it can happen in lots of places in upstate New York."
South Street represents the final piece of a more than decade-long downtown revitalization, whose highlights include a new five-point traffic circle, numerous building renovations and Glens Falls Hospital’s major expansion. The Mill, a major project overlooking South Street, was done by Saratoga Springs-based Merlin Development Co. Built for luxury condominiums, the property has been sold to a new entity that’s marketing it as apartments.
Schumer and Mayor Jack Diamond outlined plans for South Street at a press conference inside the former Empire Theatre, built in 1899, where owners Michael and Susan Kaidas have spent $2.5 million converting the historic building to retail, office and residential space.
"In New York City you would pay $2 million for a place like this," Schumer said, admiring a handsome third-floor loft. Eight of 11 apartments are occupied and only one office space is yet to be filled. Commercial tenants include Glens Falls National Bank’s audit department and The McDevitt Group realtors.
Businesses are still sought for the site’s first-floor retail space. Kaidas, originally from Schenectady, also own a commercial building adjacent to Charles R. Wood Theater on Glen Street and the building where Red Fox Books is located at 28 Ridge St.
Diamond said South Street construction bids will go out in February with work expected to start by early April, completed sometime in November. Separately, a major upgrade is also planned for the corridor connecting downtown to Northway Exit 18, which links directly into South Street. So one of the city’s main gateways will soon have a whole new look.
Thursday’s visit was Schumer’s third to Glens Falls in the past year and his 18th visit to Warren County since taking office a dozen years ago. "It’s nice to see the senator show this kind of enthusiasm for a little town like ours," Gazetos said. "I’m glad he went to bat for us. It’s a step in the right direction."
Assembly member Teresa Sayward, R-Willsboro, said, "What has happened here is really what government should be doing, partnering with private developers."
However, South Street’s long-term rebirth won’t come without challenges. The Madden Hotel is home to nearly 30 lower-income residents. Diamond said restoring the old building for apartments or condominiums would cost at least $1.5 million. A better option might be razing it for new construction space.
Diamond said the city is already trying to identify new places for hotel occupants to live.
"You have to do things with humanity," Schumer said. "South Street is the last of the major streets that needs attention. This is really an investment that’s going to pay back many, many times over."
