Party Like It's 1959

From Capital News 9 *here):
But Alderman Joseph Isabel says that proposal is unrealistic.

“This community, right now, does not have jobs to retain young, the young people. That’s the problem. Retaining people in the community. In other words, all these projects they’re pushing, you don’t build the houses before you get the people. You bring the business in,” Isabel said.

This is the red meat that has been promised to the city for decades– bring business and industry in. It’s so simple and if you look around you see how wonderfully that strategy has worked for our city: the bustling downtown, the low property tax rates and the high paying jobs that have kept our youngest and brightest here. Yes, our decades old strategy works and will continue to work!
Our local economy does not need more economic demand for housing or consumer spending. In fact, we should embrace policies that undermine demand for housing stock and real estate investment. We should advise potential investors that we do not want to be positioned as a community attractive for investment. In fact, we should dismiss and undermine the very economic arguments that would drive real estate investment into our area.
We’re so perfectly positioned for an influx of business that the very last thing we need, the very worst strategy we could adopt, and the most undesirable outcome we could imagine, is a demand side economic policy.
Party on dudes!

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25 Responses

  1. P. K. Dick says:

    How dare you question the wisdom of the past! You are a heretic! The world is flat everyone knows it.
    These elected officials are like post surgery dogs – they need a plastic cone collar around their heads to stop them from licking old wounds.
    The mills are in China working three shifts just like they were hear in 1948! No city in the US has successfully fought this NATIONAL trend. But we can do it, after all we have had years of success already.
    News flash – 45 minute commute considered short in parts of civilized world. Traffic congestion on nation’s road system at 9am and 5pm finally explained!

  2. NobleFire says:

    News Flash Kaufmans own market study said don’t expect to get people from Albany or Saratoga to live in them. News flash Kaufmans own market study said don’t expect to charge over $1000 a month for the apartments.

    • flippinamsterdam says:

      News flash: I covered the market pricing issue in a prior blog post so it’s not a NewsFlash. And market pricing is not relevant to the point of my post.
      Second, if you reject the notion that you can attract renters and home buyers “in” from outside the area, then you have to reject the notion of Mr. Isabel to bring business “in”. Where are you bringing it “in” from? Unless you’re arguing that we can support the cognitive dissonance required to embrace an economic policy can successfully bring business in but cannot bring home buyers or renters.
      Party on

    • P. K. Dick says:

      Why is there traffic at the thruway exit in Amsterdam? I can’t understand it. Nobody I know works in Albany or Schenectady. If they did they would certainly live there! I see traffic actually going through the city north bound – probably as far as Wal-Mart to shop – it couldn’t be people commuting from even further than Amsterdam since nobody here commutes. We live in a confusing world.

  3. NobleFire says:

    I don’t reject that you can bring renters or home buyers in because it is much more affordable to live in Amsterdam than it is in Saratoga. However at this time we will not do so if the same amount is charged in Amsterdam than in Saratoga. Kaufman’s study points to that as well.

    • flippinamsterdam says:

      The study does not state: if the same amount is charged in Amsterdam than in Saratoga. Kaufman’s study points to that as well. Check out the link below for downtown Saratoga where rents are 2500-3500 for comps. Please don’t make up numbers or misstate analysis; that makes me prickly.
      Here is the link
      http://www.roohanrealty.com/rentals/residential.asp

    • P. K. Dick says:

      That is a relief.
      What is the rent in Saratoga for similar space as is proposed in the Chalmers renovation? I don’t know the answer, but it is something that should be looked at.

  4. I grew up in a river town similar to Amsterdam. Hudson was once a booming town with factories and employment. My grandfather, a Polish immigrant worked in one of two cement factories. The river and the railroad were it’s lifelines. The factories slowly began to close in the 60’s. Capitalism had moved production to more cost effective locations. In the 70’s Hudson was devoid of industry or any viable businesses to keep it afloat. The younger generation moved elsewhere for employment opportunities and the city deteriorated to the degree Amsterdam has today.
    There was an industry that moved into Hudson by the 90’s that revitalized the City. To everyone’s surprise Hudson became a booming antique center. With this industry came bed & breakfasts, shops, cafes and culture in the form of art galleries and theater. People started buying up housing in droves. People tired of New York City life wanting the amenities a smaller city had to offer. The home renovation business exploded and the blight has mostly been eradicated all due to an industry that no one though could or would survive.

    • flippinamsterdam says:

      And that industry was…

        • flippinamsterdam says:

          ROFL. You kill me Jerry. You point to antiques as the driver of the rebirth of Hudson. Do you know who buys antiques in your view of economics? The elitists from NYC who moved to Hudson based upon their desire for the small city charm, architecture and lifestyle as a second home. It was the investment in the community’s real estate and history that brought the people which then brought the antique shops. You have it completely backwards and that which drove people to Hudson is what you dismiss and demolish here.
          Party on

          • Hudson’s rebirth is TOTALLY due to the antique dealers. The key is to promote tourism which is exactly what Hudson did. People come and visit for the weekend, spend their money and go home. It is also because of the accessibility of the train station which is conveniently located within walking distance to downtown. It is also because of Hudson riverfront access including a boat launch and marina. Factories along the river were taken down to build a riverfront park.
            It was the investment in the community and it’s EXISTING housing stock that helped restore Hudson’s splendor. Amsterdam could do the same by providing purchase or rehab incentives for owner-occupied housing. Tear down the Chalmers building!

          • P. K. Dick says:

            I agree with everything except the last sentence. But, that aside incentives for owner occupied housing especially in older parts of the City would be great to prevent erosion of those areas.
            Incentives under the limited tax base that we have will raise taxes on the non-incetivised properties – a least in the short term. Would you still support incentives realizing that there will be a tax increase on single family homes? I would because in the long term it will build a better City.

          • The city could take a lesson from Uri Kaufman when it comes to funding municipal projects! We would not necessarily have to increase the tax base. There are grants that could be applied for and low interest loans. Amsterdam could apply to have certain districts in the city placed on the National or State Historic Registry providing rehab funding for the entire district. Now that Chalmers has been examined microscopically and lines have been drawn, we should move on to the bigger picture of the rest of the City.

      • P. K. Dick says:

        I recall well in my youth, I worked in a factory that produced antiques.

      • P. K. Dick Says:
        May 8, 2009 at 4:14 pm
        “I recall well in my youth, I worked in a factory that produced antique”
        …and I recall being a dick in my youth.

  5. NobleFire says:

    Go back up to my previous statement about Kaufman’s own market study and then let’s try not to distort what it clearly states.

    • flippinamsterdam says:

      You said “same amount”. The study does not state anything about the “same amount” as Saratoga. Please cut and paste the specific portion of the report that says “same amount as Saratoga”. I’ll then retract my comment.

      • NobleFire says:

        That’s called the straw man fallacy. Kaufman said people will come from Albany and Saratoga- his market study say’s not. He say’s they will rent for 1150-1850 a month- his market study say’s Don’t even think about charging more than 1000 a month. Am I missing something here?

  6. MJD says:

    I think Joe has a good point. If I’m going to open a business I’m going to go where the people aren’t, not where they are. I’ll get there before the people and open up. Developers, seeing my business surrounded by emptiness, will say “This is a good to build. People will want to go patronize that business.” The boom begins! Finally, after waiting two to four years while appropriate housing is developed for my future patrons, I’ll get an actual customer.
    Having to sell all my worldly possessions and going deep into hock to survive the lean years (while I waited for my customers to move near me) will just make taping that first dollar bill to the wall all that much sweeter.
    Or maybe I’ll just open up near where my customer base lives and not go bankrupt.

  7. NobleFire says:

    Delightful old brownstones apartment buildings across from Washington Park Boat house.We have 11 Brownstones that stand together giving you a variety of choices for 1880s living in the new age. Offering one and two bed rooms and studios apt. from 675.00 to 850.00 Heat & Hot water included in all .We have a two bed room and studio and 2 one bed rooms for June 1st. and for July 1st we have 4 one bedrooms and 4 studios.Off street parking also available for lease. Nearby to Albany Medical Center and Albany Law School. Credit qualified candidates may call Kurt at 518-426-5452.

  8. NobleFire says:

    Carriage house 2 bedroom apartment. Available September thru May.Very nice neighborhood. Furnished, parking,heat included, No pets or smoking. Call John (518) 339-7979.
    21 Madison Avenue at @ Ludlow (google map) (yahoo map)
    Location: 21 Madison Avenue Saratoga Springs

    • flippinamsterdam says:

      NobleFire: Why are you spamming apartment ads?! My first and only warning.

      • NobleFire says:

        I’m not spamming apartment ads!!!! Compare those prices in Albany and Saratoga to this current project. Interesting comparison.

        • flippinamsterdam says:

          Oy. You assert that the study indicates that the rental rates for comps will be the same for Saratoga and Chalmers then you provide a link to Albany apartments not even comparable to Chalmers and then post an ad for Saratoga again for a non-comparable property with no rental rate. I’m not responding to this post further as clearly you cannot cite the specific claim you made about the study and then you casually cut and paste random apartments in and outside of Saratoga. It’s not an interesting comparison, it’s intellectually dishonest and I’m not buying it here. Fin

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