The Daily Gazette: KCG Development coverage

The Daily Gazette reported December 30th that KCG Development said it will exercise its purchase option for the 3.3-acre site of the former Chalmers Knitting Mill, paying the city a total of $300,000, to build an apartment building and banquet hall.

“This is a culmination of efforts to show our own citizens and the region that Amsterdam is on the right path,” said outgoing Mayor Michael Villa, whose administration worked for years to finalize the sale of the property.

KCG Development and its local development partner, DEW Ventures of Saratoga Springs, have had a purchase agreement with the city since 2017, but until now have used a series of purchase option extensions to maintain control of the parcel as the developers applied for $18 million worth of federal affordable housing tax credits.

The entire article can be read online here.


Submit a Comment

Your email address will not be published. Required fields are marked *


Contact Us