First Columbia converting well-known office park; Riverhill Center into a mixed-use park. First on the list climate control self-storage facilities to be located at 1199 & 1203 Troy Schenectady Road in Latham, NY.
May 3, 2023 – The Colonie Zoning Board approved the parcel with a special use permit, this allows First Columbia to plan the self-storage facility within the park.
“We’re trying to reposition Riverhill Center as mixed-use, which is what we’re finding is the future of real estate,” First Columbia President Kevin Bette said. “A lot of our businesses utilize climate-controlled storage.”
That, along with softer demand for new offices because of the growth of hybrid and remote-work schedules, led the company to propose a three-phase conversion.
“The whole self-storage industry has kind of evolved into a different product than most people recognize,” Bette said. “Most think of it as the drive up metal building in a field. The indoor climate-controlled [version] is much more attractive to businesses that need modern, safe space. We think there’s a lack of that in the Latham market close to the airport.”
“A lot of small businesses utilize climate-controlled storage for inventory and for their businesses,” he added, “as well as the next cohort of renters. There are also the homeowners that need places for their extra bikes and kayaks.”
First Columbia will have two phases under it’s plan consisting of climate controlled, large format storage/warehouse and/or individual units.