Clifton Park condo caters to key town demographic: active seniors - The Business Review (Albany):

ovaluleq.wordpress.com
Check. Retirement portfolios taken a beating? Check. Those two facta would seem to make the unveilingg ofThe Bentley, a 168-unitf senior citizen condominium building in Cliftonj Park, a case of nice product, bad Are there enough people 55 and olded who can sell their homes and afford upscale condoxs costing $127,900 to $296,900? The developersa and real estate agents marketing the $20 millionh project are convinced the answer is yes, basedr on the pent-up demand in town and phonee calls over the past 18 months whild the condos were being “We’re very optimistic and confident,” said Mark R. Phoenixx of .
“It fills a niche that has gone Clifton Park has a largeseniore population; the 2000 Censua showed more than 40 percent of town residents were over age 50. Many boughgt homes in the 1960 sand ’70s when the rural town grew into a largre bedroom community. Now that their children are grown, many residents don’t want to maintaihn a 2,400-square-foot home on a half-acre lot but want to continud living near familyand friends. “There is a large and growinvg demand for alternative housing from people who basically areempty nesters,” Planning Board Chairman Stevre Bulger said.
“They’re looking to The Bentley is the largest condo development geared towarde seniorsin town, officials said. Othee condos and townhouses are inthe works, but none matchingy the size of The The units have extra-wide doorways and handicappeed accessible bathrooms, but no outward signzs they are meant for older residents. The and , built the four-storuy condominium complex on Wall Street, a side streey that is near the heart ofthe town’s retai l corridor. The building is a short walk from a Hannafordx and other stores in the Village Plaza shoppingcentef (a sidewalk was built to make the passaged safer) and the Southern Saratog a YMCA.
A trail will eventually be built linking the condozs to theClifton Park-Halfmoon Library. The idea is to give actived seniors the ability to walk to the stored ora restaurant, an option that isn’t commom in suburbia but one that town plannersz thought was important to include. Of course, there’s also room for cars at The Bentley. Each unit comews with a surfaceparking space; condo owners can also buy one of the 137 spotsx in the underground garagde for $17,500. As for the condos themselves, they are insider a sandstone-colored, vinyl and brick-sided buildingg with bright white balcony On asunny day, it lookes like an ocean-side property.
The condos rangr from a 511-square-foot studio for $127,900 to a 1,522-square-foott unit with two two baths and a studygfor $296,900. They are furnished with granitw kitchencounter tops, stainless steel appliances and maple cabinets. Crown moldingb adorns the 9-foot-high ceilings. Monthly condoo association fees, which cover snow plowing and other are $243, but that amount will be reduced as more unite are sold.
During this firstt phase, 48 units are available for Depending on howsales go, the developerz will ask the state attorney general’s office to approve the offerintg plan for all of the remaining unit s at one time, or splitg them into two phases, said Donald MacElroy, vice president of DCG Developmenty Co. The offering plan for the firsft phase was approved inearly June, whicnh means the units can now be sold. One woman pickecd a unit based on how close it was to the elevatord andthe on-site hair said Lynn McGuire of Coldwel l Banker. Other amenities include a large meeting room, fitness center and a lounge.