Development
Transforming Communities Through Innovation and Sustainable Development
About MLB Development
Explore how our visionary development projects are making a meaningful impact in local communities. By blending innovation with a commitment to revitalization, we breathe new life into neighborhoods, creating spaces that promote growth, connection, and opportunity. From modern residential areas to thriving commercial hubs, our focus is on crafting environments that inspire and elevate the quality of life for everyone.
Summit Avenue Redevelopment
MLB Development is about to undertake its first local development project to create homeownership opportunities in Schenectady’s Hamilton Hill community. This joint effort between AIK Property Group, LLC, and MLB Construction Services, LLC aims to:
Revitalize Summit Avenue by providing affordable homeownership opportunities for first-time buyers. CHANGE THIS LAYOUT
Promote equity and generational wealth through affordable housing.
Target local buyers as the first priority.
The project will create 38 new housing units, including nine long-vacant houses slated for demolition. These energy-efficient townhomes, sized at 1,300 to 1,600 square feet, will feature modern open-concept designs, starting at an affordable price of $139,000. Monthly payments for a two-bedroom home will be less than $1,100 a month, making it accessible for households earning $45,000 to $68,000 annually.
The development team is collaborating with the City of Schenectady, the Capital Region Land Bank, and the Schenectady County Metroplex Development Authority. Financing will be sought through the New York State Homeownership Opportunity Program (AHOP).
“This project bears a personal connection for me having grown up in Schenectady. My father grew up on Summit Avenue with his seven brothers and sisters. I’m so happy and grateful to be able to be a part of the revitalization of this neighborhood. Pam and her team at AIK bring such wonderful vision for the neighborhood and we’re ready to hit the ground running hand in hand with the City of Schenectady, Metroplex, and Land Bank.”
President, MLB Development
97 Central Ave
97 Central Avenue will consist of studio, one-bedroom, and two-bedroom apartments affordable to households earning up to 80 percent of the Area Median Income.
The building was originally constructed in 1911 and later underwent a major renovation, serving as offices for the New York State Division of Parole from 1982 until 2021. It has been vacant since 2021. In 2024, the building was listed in the State and National Registers of Historic Places as a rare, early example of a Neoclassical-style reinforced concrete building in the City of Albany.
This redevelopment will modernize the building with extensive upgrades while preserving its historic character. Improvements include new interior walls to create the residential apartments, new roofing, updated plumbing, and masonry restoration. Residents will have access to common gathering spaces and a fitness room.
