Garry Olsen, president of Wilton-based company Olsen Development, is looking to change all that by building 96 town houses behind the Price Chopper on Route 50 that would sell for $150,000 to $160,000 each.

“We are looking to attract first time buyers and people who work here, but can’t afford to live in Saratoga like teachers, firemen, chefs and other service industry workers,” Olsen said.

The project is named “Railroad Place” and will feature homes grouped in clusters of four between 27 Aletta St., and 25 New St. They will be marketed to service workers who normally wouldn’t be able to afford a home in the area based on their salaries.

The property is owned by William McNeary, but is under contract to be sold to Olsen Development. Olsen has proposed special zoning to the city council and planning board in order to allow him to develop the land.

The town houses will consist of three bedrooms, 1 bath, a single-car garage and driveway.

“The sooner we get started the better; right now we are just waiting for the final approval,” Olsen said.

The project first had to get a Planned Unit Development (PUD) approval. The PUD is a means of land regulation that promotes large scale, unified land development by means of mid-range, realistic programs in cases of social and economic deficiencies in land and cityscapes. 

The regulation plan was approved by the Saratoga Springs City Council on Tuesday, March 18.

The matter has since been reverted over to the planning board to get their final approval and recommendations on the project.

Olsen said the residents located near the proposed housing site are concerned over a drainage issue, but he feels it is manageable. He also said that many local homeowners are concerned about the development depreciating the value of their homes. However, Olsen feels that the addition of nice new homes in place of the tractor-trailers and vacant land that already consumes the property will help to increase the value of homes in the area.

Licensed real estate broker and affordable housing advocate Celeste Caruso said history has shown the market value of homes only increases with the addition of affordable housing and has had a positive impact on the real estate market.

Caruso added that with all the high income housing coming into the area there is now a higher demand for more services which begs the question: who will be here to service the city and ensure a stable work force?

“People who work in the service industry would like the opportunity to live and raise families in the same place they work,” Caruso said.

In recent years several high-priced condominium properties have sprung up along Broadway. Today, condominiums being constructed on Park Place and 38 High Rock cost upwards of $400,000 to $1.5 million.

“Right now affordable housing is lacking in the area,” Olsen said. “I’m looking forward to bringing more affordable housing back to the city.”