Courtesy Gerry Magoolaghan
By Jill Nagy
After years of managing other people’s subdivision developments, Gerry Magoolaghan is striking out on his own as a developer with a 100-acre housing development off Route 29 in the Town of Saratoga.
“This is the first that it’s mine,” he said of the project, called Schuyler Hills, a conservation subdivision of 28 single-family homes on lots ranging from just under one acre to almost four acres.
He said the homes will be built on 50 acres of the hilly, wooded parcel. The remaining 50 acres of land will remain “forever wild.”
A homeowners’ association will own and manage the undeveloped land. “That will be their only role,” he said.
Homeowners will pay approximately $250 per year to cover the cost of maintaining the common property.
Because of all the vacant wooded land around it, a one-acre lot will seem like a lot more, he said.
Homes will start in the high $300,000’s and prices will probably top out at about $700,000, he estimated.
The styles of the houses will be up to the owner, Magoolaghan said, but he expects mostly colonial or craftsman-style wood-framed buildings with vinyl siding.
Cerrone Builders of South Glens Falls will do the construction.
The site is about a mile and a half outside Saratoga Springs, “11 minutes from Broadway,” Magoolaghan said.
He purchased the land on October 27 from the Willard F. Chamberlain Trust for $500,000.
One of the subdivision roads is paved and ready for traffic and Magoolaghan expects to have a model home ready in early February.
He said he will start marketing in early February. He plans to have the subdivision available for inspection during the Capital Region Parade of Homes in June.
While he is not aiming at any particular market, the developer said that he expects a good mix of young families and “empty nesters.”
“This is a really good area with a great school district,” he said. The development is in the Schuylerville Central School District.