By Maureen Werther
G.A. Bove Fuels, an 80-year-old company that distributes propane, heating oil, and diesel fuel across the upstate region, is building a 40-unit apartment complex in Stillwater, on nine acres of land that has been owned by the Bove family for years.
The apartment complex is called Gennaro Apartments, named after John Bove Jr.’s grandfather, Gennaro Bove, founder of Bove Fuels.
Bove Jr. said they broke ground two months ago and are hoping to have the first two buildings completed and ready for occupancy by the end of 2016. When the project is complete, there will be five buildings, with eight condo-style units per building.
Williams & Williams Designers Inc. in Glens Falls are the architects of the Gennaro apartment project and the general contractor is 10 Cardinal Lane LLC of Gansevoort. The budget for the project is $5 million and it is expected to be completed in the next two to three years.
The property is located off Coldsprings Road and west of the DeCrescente building in Mechanicville. It is approximately a 12-minute ride to GlobalFoundries, a factor that Bove thinks will be attractive to people working at GlobalFoundries and nearby businesses.The apartments will sit on the side of a hill. The site will have its own entry road.
"We took advantage of the natural slope of the land when we planned this project," said Bove.
Each unit will occupy two floors, with an additional level below the units for garages and basements. The units are all just under 1,100 square feet and have their own separate entrances.
The floor plans include two bedrooms, a full bath and washer/dryer units on the second floor, with a kitchen, living and dining room (or den), and half bath on the first floor. Amenities include hardwood floors, granite countertops in the kitchens, first floor fireplaces and second floor balconies overlooking the Hudson River and the adjacent Green Mountains.
Also included in the rent, which Bove said will be $1375 per month, is heat/hot water, sewer and Wifi connection.
"We feel that we are providing the community with a great living alternative," Bove said. "People will have the privacy and other advantages of condo living, with their own separate entrances, basements for storage and indoor garages, plus high-end amenities, all for a very reasonable rent. And, the proximity to nearby Mechanicville, as well as being minutes from the Northway, make it a desirable location for commuters."
This is not the first foray into the construction industry for the fuel company. The family operates a separate real estate business under the name Bove Holdings LLC. Other projects have included the construction of nearly 200 self-storage units, 40 apartments, a medical practice, a bank, and several laundromats.