SARATOGA SPRINGS — A prime piece of downtown architecture is looking to grow taller.
Prime Group Holdings founder Robert Moser is seeking city Land Use Board approval to add two stories to the company’s existing two-story brick masonry office building at 395 Broadway. If approved, the combined four-story building would serve as office space for Prime Group Holdings on all four floors, with a retail store component on the first floor.
The red-brick building located on the southwest corner of Broadway and Division Street was originally developed in 2000 to house Borders Books & Music, and in in 2018 was purchased by Ed Mitzen and the Fingerpaint Marketing firm. It was sold to Prime Group Holdings for $11 million in July.
On Sept. 5, the U.S. Securities and Exchange Commission announced it had charged Prime Group Holdings LLC for failing to adequately disclose millions of dollars of real estate brokerage fees that were paid to a real estate brokerage firm that was owned by its CEO. “Prime Group agreed to pay a $6.5 million civil penalty and more than $14 million in disgorgement and prejudgment interest to settle the charges,” according to a statement released by the SEC on Tuesday.
It was not immediately known what effect the company’s payment of $20.5 million to settle the charges may have on its previously expressed plans for adding two stories to its Broadway building.
Prime Group had previously planned to build a six-story complex with a restaurant, retail and offices at 269 Broadway - adjacent to Saratoga Central Catholic School - until construction estimates climbed well beyond the initial $30 million projection, Robin Cooper reported last month in the Albany Business Review. A decision about what will become of that property has not been decided.
Plans, proposals and alterations related to Saratoga Springs developments and architecture make their way through one or more of the city’s three Land Use Boards. Those boards are the Planning Board, Design Review Commission and Zoning Board of Appeals. Meetings are open to the public. For a list of regularly scheduled meetings, go to: saratoga-springs.org.
Some of the other projects currently making their way through the city’s Land Use Boards.
• A project at 78 Church St., between Clinton and West Harrison streets, involves the demolition of an existing retail business to make room for a 61-foot multi-use residential and commercial building. The proposed five-story building will include 23 condominium units, commercial space on the first floor, and a garage. Applicant: Spring City Development Group, LLC.
• Station Lane Site Plan West Ave. & Station Lane. Consideration of SEQRA review for a proposed mixed-use project including 9,500 square feet non-residential space and 68 multi-family residential units. The non-residential space is proposed to feature the development of about 6,900 square feet of retail space and 2,600 square feet of restaurant space. The approximate 2-acre project is currently vacant.
• Adult Use Dispensary: 95 West Ave./250 Washington St. Special use permit for a marijuana dispensary. The applicant - Ten Cees, LLC – says it plans to institute a digital queue system in which customers will order in advance, then wait in their vehicles until being notified via app of their turn to enter the dispensary. To ensure orderly queuing, physical lines will be established outside the dispensary’s front door at 95 West Ave. and wrap around to the back door, according to documents filed with the city.
• Stewart’s Shop is looking to re-develop its Express at 177 South Broadway, with the razing of an existing house at 28 Lincoln Ave. and the construction of a new near-4,000 square foot Stewart’s.
• Chipotle area variance: removal of a vacant existing building at 12 Ballston Ave. and in its place the construction of a one-story restaurant.