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Prime Group Holdings, LLC. Purchases Saratoga Springs, NY Property for Self Storage Use

Posted: 3/22/2018 Link: SpareFoot.com
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Prime Group Holdings, LLC. in Saratoga Springs, NY, hopes to score $460,000-plus in real property, mortgage and sales tax savings as it seeks approval for a $4 million, two-story self storage facility to be built near the southeast corner of Route 50 and Edie Road in Wilton.

But the Saratoga County Industrial Development Agency, aware that the facility would employ just five people, has concerns. The IDA usually prefers to grant financial breaks to companies that will employ far more people, and is concerned about setting a bad precedent.

“This is a thought-provoker,” IDA Chairman Rod Sutton said. “You open the floodgates if we go ahead with this. Saratoga County being what it is, other storage units are going to spring up all over the place.”

He said at least six other self storage facility developers have told him they would seek tax breaks if Prime‘s application is approved.

Prime has bought a 3.41-acre parcel for the facility. The Town of Wilton Planning Board has approved the project, but Prime hasn’t found financing yet.

A public hearing about Prime’s proposal is scheduled for April 9.

Another company, Northeast Green Tech LLC, seeks the Town of Wilton’s approval for a three-story, 125,000 square-foot self storage project, just east of Exit 16 on Ballard Road.

 

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