rbc in the news

Proposed apartment project gets more time
Apr. 8, 2015

The Board of Zoning Appeals on Wednesday extended approval of a $16 million apartment project proposed by Richbell Capital for 25 Holland Ave. READ MORE

New urbanist vision for derelict Tobin site in Albany
Apr. 3, 2015

The derelict Tobin First Prize plant along Interstate 90 in Albany and Colonie would be replaced by a walkable neighborhood of residences, small shops, offices, restaurants and entertainment, under a plan being developed by Richbell Capital, sources told the Times Union. READ MORE

Expansion Of Adelphi Hotel Begins; New Property Acquisition Alters Earlier Plans
Feb. 6, 2015

With $24 million in financing now in hand, the owners of the Adelphi Hotel in downtown Saratoga Springs have started the long-awaited reconstruction of the 137-year-old hotel. READ MORE

Adelphi rehab moves ahead with $24M loan
Jan. 9, 2015

Toby Mildé rang in the new year with the sort of accomplishment that would make any developer feel better about the road ahead. READ MORE

Historic Hotels Move Toward New Futures
Jan. 9, 2015

Two historic hotels in the region are moving a step closer to finding new life in their communities. WAMC’s Southern Adirondack Bureau Chief Lucas Willard reports on the latest developments in Saratoga Springs and Cambridge. READ MORE

Expanded Adelphi Hotel project in Saratoga up to $34M
Jan. 6, 2015

More than a century of patchwork renovations made the Adelphi Hotel a maze of structural support, none of which seemed to offer the iconic Broadway building much stability. READ MORE

Financing in place, Adelphi Hotel project moving forward
Jan. 5, 2015

RichBell Capital has secured $24 million in financing from the Bank of America to complete the rehabilitation and restoration of the historic Adelphi Hotel in Saratoga Springs. READ MORE

Adelphi Hotel owner secures financing for $34M overhaul of historic Saratoga property
Jan. 5, 2015

A long-awaited gut renovation and upgrade to the historic Adelphi Hotel will start this week in Saratoga Springs, New York, but the $34 million overhaul is much larger, and more ambitious, than the original plans. READ MORE

The Kensington At Halfmoon Will Have 200 Luxury Apartments By Spring 2014
Nov. 11, 2013

Richbell Capital seems to have a good eye for development opportunities and a discerning clientele appears to welcome its vision. Saratoga resident and Richbell president Toby Mildé's latest project is The Kensington at Halfmoon, 200 luxury apartments set on 30 acres at the corner of Stone Quarry Road and Route 9. READ MORE

Officials finally break ground on The Residences at Lexington Hills
Nov. 7, 2014

On Friday, a decade after the idea for The Residences at Lexington Hills was first proposed for an 85 acre site off of St. Agnes Highway, the groundbreaking for the $70 million project was held. READ MORE

Big dig begins in Cohoes
Nov. 7, 2014

It's been a decade in the planning, but on Friday morning, ground was broken for Cohoes' largest apartment development, the $70 million Residences at Lexington Hills. READ MORE

Cohoes’ largest apartment project under way
Oct. 29, 2014

Work is getting under way on the Residences at Lexington Hills, a 408-unit apartment complex that will be the largest in Cohoes, according to Ed Tremblay, the city’s director of community and economic development. READ MORE

408-unit private apartment project largest in Cohoes
Oct. 29, 2014

Work is getting under way on the Residences at Lexington, a 408-unit apartment complex that will be the largest in the city, said Ed Tremblay, the city director of community and economic development. READ MORE

RBC Construction moving ahead with hundreds of new apartments
Oct. 28, 2014

RBC Construction broke ground on The Residences at Lexington, a $70 million luxury apartment complex in Cohoes, New York that continues its big investments in the multi-family residential market in the Albany region. READ MORE

Adelphi Hotel owner acquires Saratoga Springs properties
Oct. 27 2014

The owner of the historic Adelphi Hotel in downtown Saratoga Springs, New York, paid more than $2 million for nearby properties, greatly increasing the size and scope of a renovation project that has been more than two years in the making. READ MORE

Holland Ave. apartments proposed
Aug. 8, 2013

In earlier version of this story incorrectly stated the original use of the existing 33-unit apartment building on Holland Avenue. While the building at 25 Holland Ave. eventually became a dorm for Albany College of Pharmacy, that was not its original purpose. READ MORE

40 Under 40: Robert Hofmann
May 10, 2013

Robert Hofmann had to make a tough career decision, twice. The first time was when a job opened up at BBL Construction Services LLC in Albany, one of the largest commercial builders in the region. At the time, Hofmann was working as an estimator at Curtis Lumber in Ballston Spa. READ MORE

RBC Construction building Halfmoon apartments
Jan. 17, 2013

RBC Construction, a new general contractor in the Albany, NY, area, is pouring foundations for a $35 million apartment complex in Saratoga County, one of its first projects. The 200-unit Kensington at Halfmoon is being built at the corner of Stone Quarry Road and Route 9 in the suburban town, one of the fastest-growing in the region. RBC was formed by the principals of Richbell Capital LLC, the same investors who bought the historic Adelphi Hotel in Saratoga Springs last year for $4.5 million. READ MORE

Adelphi Hotel estate sale a success: Nearly 30% of historic hotel's contents sold
Jan. 17, 2013

SARATOGA SPRINGS — After clearing out hundreds of antiques in a recent estate sale, Adelphi Hotel owners are preparing for the next phase of a major building overhaul. About 30 percent of the 135-year-old building’s contents were sold recently during a four-day event that saw scores of people line up outside for a chance to buy a piece of Saratoga history. READ MORE

Saratoga luxury apartment developers diversify, start construction firm
Sep 14, 2012

The investors who bought the historic Adelphi Hotel in Saratoga Springs last spring are rolling the dice on another new venture. They started a construction company that will do $6 million to $7 million in renovations after the hotel closes for the season in November. Another project coming up: a $36 million, 200-unit luxury apartment complex called The Kensington of Halfmoon.READ MORE

Planned renovation could mean a modern heyday for historic Adelphi Hotel on Broadway
Aug.26, 2012

SARATOGA SPRINGS — Broadway was once lined with expansive, monumental hotels such as the Grand Union and the United States. The only surviving hotel is the four-story Adelphi, built in 1877, and its new owners are planning an extensive renovation. This past spring, the hotel was purchased by Simon Mildé, his son, Toby, and Larry Roth. Simon is the chairman and chief executive officer of Richbell Capital, and Toby is its president. READ MORE

The Adelphi Hotel, A Saratoga Grande Dame, Gets A Little Work Done
Aug.16, 2012

Step into the lobby of the Adelphi Hotel on Broadway in Saratoga Springs, New York, and step back into history.
Built in1877, the Adelphi is the last of the grand hotels that graced the main thoroughfare of this small city nestled among the Catskill, Adirondack, and Berkshire Mountains. Known for the mineral water that courses beneath it, feeding the bathhouses and giving the town its name, Saratoga in the 19th century was the summer destination of the rich, the social, the ambitious, the corrupt, the adventurous. READ MORE

In the Biz: Adelphi Hotel now under new ownership
Jun.18, 2012

The Adelphi Hotel in Saratoga Springs is now open for business under new owners. The historic hotel on Broadway is now being operated by RBC Hotels, a hotel management company owned by Richbell Capital LLC. The company retained the vast majority of the people who were employed by the hotel under its previous owners, many of whom have worked there for a decade or longer.. READ MORE

New owners of Adelphi Hotel plan $6 million in upgrades
May 4, 2012

The new owners of the historic Adelphi Hotel in Saratoga Springs plan to spend nearly $6 million converting the 39-room hotel from a summertime business to a year-round destination. “We’re excited about it,” said Toby Mildé, president of Richbell Capital LLC, the investment group that paid $4.5 million for the hotel at 361-365 Broadway. Mildé expects demand for upscale hotel rooms to grow with the influx of more technology-related jobs, such as those at the $4.6 billion GlobalFoundries chip fab in Malta, 10 miles south of Saratoga Springs. READ MORE

$4.5M sale of Adelphi Hotel in Saratoga finalized
May 1, 2012

The $4.5 million sale of the Adelphi Hotel in downtown Saratoga Springs has been finalized. The closing documents were signed late last week, transferring ownership of the historic, Victorian-era hotel to a group of investors that includes Toby Milde, a 37-year-old city resident and real estate developer. The Business Review first reported the deal was in the works. READ MORE

The Paddocks, luxury apartments in Saratoga, set for expansion
Jun 29, 2011

Apartment company Capital District Properties LLC will break ground Aug. 1 on an expansion of its luxury units in Saratoga Springs. The company will invest $14 million to build an additional 84 units, said Toby Milde, managing director and partner of the company. The project marks a 25 percent expansion of the units at The Paddocks of Saratoga today. The first units should be ready to lease at the beginning of 2012, Milde said. READ MORE

200 luxury apartments planned for Halfmoon as demand stays strong
Feb. 18, 2011

Capital District Properties LLC plans to add another 200 units to its portfolio of luxury apartments in the region. The real estate investment firm will start building The Moorings of Halfmoon this spring on Route 9 at Stone Quarry Road, said Bill Hoblock, managing director. The first units should be ready for occupancy at the end of this year or early 2012. Rents will range from about $1,250 for a one-bedroom, 900-square-foot apartment to $1,800 for 1,450 square feet with two bedrooms and a den. READ MORE

Ritzy rental projects find homes in Wilton and other suburban areas
Dec 24, 2007

Owners of a Latham real estate development company believe they've got a head start on the next big trend in housing. Capital District Properties LLC is tapping into the "renters by choice" market of empty-nesters, young professionals and snowbirds who can afford to buy a home but don't want to. Residents began moving into the company's first batch of high-end apartments last month as builders finish construction of the initial phase of The Paddocks of Saratoga off Old Gick Road in Wilton. READ MORE