Faced with rising construction and material costs that stemmed from the COVID-19 pandemic, the Saratoga Springs, New York-based developer Richbell Capital Development Group, also known as RBC, succeeded in seeing the first phase of its multifamily project in nearby Glenville through to completion, making use of funding from the U.S. Department of Energy for energy-efficient building.
Dubbed The Residences at Fox Meadow, the luxury development located at 457 Dutch Meadows Lane was fully leased by the end of 2023, according to RBC. The first two phases of the project contain 104 units. When the project's third and final phase wraps, the complex will have 308 units in total.
The multifamily building has 15 floor plan options and is accompanied by a parking garage, electric vehicle charging stations and a dog grooming area. RBC donated a 7-acre plot directly across the street from the property town of Glenville, which is converting the land into a public park honoring military veterans.
About the Project: Richbell Capital Development Group finished the first phase of the multifamily development. Construction was partially funded by the U.S. Department of Energy's Property Assessed Clean Energy program.
What the Judges Said: “I chose this project because it utilized the Property Assessment Clean Energy approach for energy efficiency and renewable energy," said one of the judges. "Another unique aspect of the project included cutting-edge technological amenities to enhance the quality of life for the residents.”
They Made it Happen: William Hoblock and Toby Milde of Richbell Capital Development Group; James Fahey of James Fahey Designs was the architect.