WILTON — Developers plan to create small-business space for spin-off firms that would support a computer chip plant at Luther Forest Technology Campus.
The proposal, called Edie’s Crossing, would feature seven two-story buildings of about 20,000 square feet each — for a total of 141,000 square feet — on 20 acres at the southwest corner of Route 50 and Edie Road.
Firms would buy, not lease, space, under a kind of business-condominium concept new to the area. The site is for commercial and light industrial users, not retail.
“Our timing is good,” said David Leman of lemanrealty.com in Saratoga Springs, who represents developers. “It’s really for people who want to own, but can’t afford to go through the process. It’s really come about because of the high price of property.”
Instead of having to find land, buy it and then go through planning reviews, business owners can simply purchase space. A group called 4300 Route 50 Development LLC is doing the project. Leman declined to name partners and whether they’re local.
On Wednesday, shareholders of California-based Advanced Micro Devices voted to approve a business venture with two investment firms based in Abu Dhabi that will allow construction of a microchip plant at Luther Forest. The Malta facility is expected to bring numerous technology-related firms to the area, and the proposed Wilton site would be an ideal place for them to locate.
The first building could be put up this year.
“We’re hoping to break ground in the spring and have fall occupancy,” Leman said. “People could buy, lease or lease with an option to buy. We’re not reinventing the wheel. We’re just bringing it to the area.”
Because of its condominium-style nature, the project requires approval from the state attorney general’s office.
Leman said he can’t discuss pricing or begin marketing the site until the attorney general approves it.
The second story of each building would be reserved for office space. First floors would have “flex” space that all kinds of small business could use — plumbing, electrical, contracting, even graphic supplies or woodworking shops. Some might not be related to AMD at all.
Multiple occupants are expected for each building. The first building would have six to eight first-floor spaces with four to six on the second floor.
Some first-floor sites would have garage bays where firms could put their vehicles. Leman said most small businesses use service-type vehicles. Large trucks and tractor-trailers aren’t expected to use the site.
A public hearing on the proposal is scheduled for 6:30 p.m. Wednesday, March 18 immediately preceding the town Planning Board’s regular monthly meeting.
Source : http://www.saratogian.com/