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Shovel-Ready Site Available for New Housing Project

Shovel-Ready Site Available for New Housing Project

Currently offering 26+/- acre tract of undeveloped land


Develop New Housing:

The Fulton County Industrial Development Agency (IDA) has listed for sale a 26+/- acre tract of undeveloped land in the Crossroads Park off South Kingsboro Ave. Extension is Gloversville, NY. The IDA Board is offering this tract of land to developers to use to develop new single-family homes, townhouses, condominiums or market rate apartments.

This 26+/- Acre tract of land is Shovel Ready.

The land is owned by the IDA. Public roads provides direct access to and into the site, municipal water and sewer service are already in place as is electric and natural gas lines. The existence of these roads and infrastructure represent a major cost savings to a housing developer.

An Opportunity for Investors and Developers:

The IDA is offering this tract of land to housing developers to encourage the development of new housing to address the significant need for new housing in Fulton County. Fulton County’s recent Housing study documented a current need/demand for various types of new housing including townhouses, condominiums, market rate apartments, seniors housing and professional and executive level homes. This demand represents an opportunity for investors and developers.


New Policy offering three New Incentives:

To encourage developers to invest into building new housing in Fulton County, the IDA Board recently adopted a new policy to offer three (3) financial incentives to housing projects.

1. Real Property Tax Exemptions.
2. Sales Tax Exemptions.
3. Mortgage Recording Tax Exemptions.

Real Property tax exemptions would be provided through a Payment in Lieu of Tax Agreement (PILOT). PILOT’s are available on a case-by-case basis with the maximum term being 30 years. The sales tax exemption would exempt a housing developer from paying the 8% sales tax on the materials used in the construction of new housing.

The mortgage recording tax exemption would exempt the developer from paying the 1% mortgage recording tax that would have to be paid in the housing project included with mortgage that would have to be filed in the County Clerk’s office.

This parcel of land is listed with Howard Hannah Real Estate Service.

Anyone interested in this parcel should contact Colleen Ioele-DeCristofaro at 518-281-4467