Developer proposes 22 apartments, 500‑sq‑ft retail at 761 Maple; planning board review scheduled

Morris Reed, a developer addressing the Glens Falls Industrial Development Agency on Sept. 16, proposed converting a long‑vacant property at 761 Maple into 22 apartments and roughly 500 square feet of commercial space.

Reed said the team bought the property April 24, spent money securing and repairing deferred maintenance and then pivoted from seeking single‑tenant industrial or office users to building rental apartments. "So our new proposal is 22 apartments and about 500 square feet of commercial space," Reed said. He told the board he has letters of intent for four of the commercial spaces in an adjacent project and expects market interest for the small retail unit at 761 Maple.

The proposal is scheduled for a planning‑board hearing Oct. 1, and Reed told the IDA he will submit a formal IDA application once planning approval is refined. "So we'll formally submit here, very shortly," Reed said; the board asked staff to circulate the application to members and to schedule a public hearing at a future IDA meeting.

Why it matters: the parcel at 761 Maple has been vacant for years and has been the subject of prior cleanup and security work. Board members and staff said reuse could spur further investment in the East End and support related brownfield and redevelopment work the city is pursuing.

Discussion highlights included site history, design changes and rents. Reed said the team originally contemplated 33 units but scaled back during design and cost review. On affordability and market targeting, Reed said average rents are expected to be "around $13.50 on average." Board members pressed Reed for parking, security and neighborhood conditions; Reed said he is arranging site security, lighting and will add green space to meet zoning standards.

Board direction and next steps: staff said it will post the IDA application publicly after the planning board action and add the item to the next IDA meeting agenda as a public hearing. The planning‑board hearing was described by staff as the key near‑term milestone.

No formal IDA financial incentive was approved at the Sept. 16 meeting; the board agreed to accept a completed application and to hold a public hearing after planning action.

Reed and staff also discussed potential historic tax credits and a city‑administered grant the transcript described as a municipal restoration grant that the city holds on the property. Reed said the developer will provide required matching funds.

The item will return to the IDA for formal consideration after it is certified complete and after the planning board process.