Capital District Properties Managing Director Toby Milde referred to the new development as “the next generation of rentals.”

The residential rental community will be comprised of a total of 336 units in 28 buildings, and there are plans for more to come. Milde said CDP has already acquired an adjacent lot in order to add an additional 94 units, but that’s still in the approval process.

“The response has been tremendous,” he said. “There’s been so much demand and inquiry into these apartments that we felt we should expand.”

Milde believes their showroom at 355 Broadway has been a big help in attracting potential tenants. He said its central location has allowed them to capture a lot of summer traffic in downtown Saratoga.

So far, nearly all of the units in four buildings have been reserved, even though the first building won’t be delivered until at least mid-October. The entire development is scheduled to be completed by fall 2009.

Although construction only began four months ago, Milde said the development has been in the planning process for the past three years. The community’s roads and sewers were the first thing installed, just before the winter.

“We’re very excited about this project and the response we’ve had thus far,” Milde said.

The Paddocks is just one of several developments CDP has underway in the area; the company also has projects in Halfmoon and Brunswick. The local location was chosen primarily for its proximity to downtown Saratoga Springs, the department stores in Wilton, Exit 15 of the Northway and the many recreational and cultural experiences available nearby.

The layout and size of the spaces varies from an 895-square foot one bedroom, one bathroom apartment to a 1,550-square foot apartment with two bedrooms, two bathrooms and a den. The cost of a unit ranges from $1,000 to 1,800 a month, and Milde said the typical renters will likely be either empty nesters or young professionals.

Apartment amenities include cathedral and vaulted ceilings, a gourmet kitchen with high-end cabinetry, granite counter tops, hardwood floors and a first rate appliance package, berber carpeting, oversized windows and walk-in his and her closets. Additionally, every residence has a laundry room with a washer and dryer, a private garage and either a balcony or patio.

To enhance the development’s community feel, CDP is creating a center green with picnic areas, providing a wireless Internet network, installing a resort-style swimming pool, sidewalks and old English lamps and building a clubhouse with a billiards room, media center and state-of-the-art fitness center. Tenants will be offered a concierge service which includes maid service, dry cleaning, pet walking and restaurant reservations as well.

Milde believes the main attraction of the units is the maintenance-free living. He said The Paddocks represent the most upscale apartment living option in the Capital Region, and are the perfect choice for people moving into the area or looking to downsize.

For more information, call 581-7400 or visit www.thepaddocksofsaratoga.com. Apartment floor plans are available online.