"It's a combination of location, two good school districts, and the taxes are lower than most of the surrounding area," said Richard Rosetti, president of Rosewood Builders.
Rosetti's firm is halfway through construction of the final two of 46 homes in its Morningview Farms development on Boght Road in North Colonie.
also has approval for 140 more houses in what will be called the Northridge Hollow project at the corner of Miller and Haswell roads.
is building the last two houses at Morningview before selling them because it would not make sense to let the crew go after building one house and then come back for the final one.
is confident he
can sell the last two houses.
Prices for the homes range from $400,000 to $750,000.
"Certainly when the market was better, I'd keep four or five spec homes at a time," he
Despite its building boom, Colonie still has a reputation as a tough place to get approval for new construction.
said it took him 11 years to get approval for Northridge Hollow.
The previous developer on the Parkside site had the property for nine years.
"It's no worse but it's not better," Rosetti
said the idea was his
For Northridge Hollow, he
would have had to pay $750,000 upfront, even though the houses will be built in phases.
"Until I build the house and the family moves in, there is no impact," he