MALTA — Sunmark Federal Credit Union has acquired roughly six acres of land in Malta through foreclosure.
The two parcels were previously owned by Bruce Schnitz and Neil Swingruber of Blacksmith Square Partners. The properties, located at 2458 Route 9 and 11 Blacksmith Drive in Malta, had town approval to construct a four-story building with 170 residential apartment units, 28,000 square feet of retail space and a parking garage. It is 2.8 miles away from GlobalFoundries. However, construction never began and Blacksmith Square Partners later filed for Chapter 11 bankruptcy.
Sunmark Federal Credit Union is selling the property with Carrow Real Estate and is listed for $2.9 million.