Ayco, a Goldman Sachs company, plans to lease a 150,000 sq-ft headquarters building in the Town of Colonie

10-18-2017

Financial counseling pioneer Ayco makes a long-term commitment to New York’s Capital Region
Ayco plans to lease a 150,000 sq-ft headquarters building in the Town of Colonie, New York, subject to approvals
Construction on the LEED-certified building is expected to begin in 2018

Ayco, a Goldman Sachs company, announced today that it intends to lease an approximately 150,000 square-foot office building in the Town of Colonie, New York. The building site is located at Exit 7 off the Northway at the location of the former Starlite Music Theater.

Ayco President and CEO, Tim O’Hara said today, “We’re excited to progress our plan to consolidate our people in the Capital Region. We believe this will allow us to better serve our clients and increase opportunities for our associates to collaborate and connect.”

The site, which has been vacant since 1998, will be developed by the Galesi Group and is expected to begin in 2018, contingent on several additional approvals by the Town of Colonie. The project will include a much-needed road to ease congestion in the surrounding areas.

“This is tremendous news for the Town of Colonie, its residents and small businesses,” said Town Supervisor Paula Mahan. “We’ve had a vacant lot sitting unused for a long time. This project, once fully approved, will accrete value to that land and the surrounding area and, critically, bring an influx of jobs and revenue to support our local businesses. We’re thrilled to continue to partner with Ayco.”

Additionally, Ayco intends to bring at least 160 new jobs to the area by 2021.

Ayco currently has three existing offices in the Capital Region in Latham, Albany and Saratoga Springs. It is expected to move many of its employees from these locations in phases over several years. Initial moves into the building would begin no earlier than late 2019.

“We’re grateful for the continued support from the City of Saratoga Springs and the Town of Colonie,” Tim said. “Their partnerships allow us to continue to grow and thrive as part of the communities in which we live and work.”

Ayco will continue its ongoing and deep commitment to the surrounding Capital Region community in the form of several programs including Ayco Gives, Ayco Gives for Kids and Community TeamWorks, all of which allow Ayco employees to give back to the community through grants and hands-on community-based projects.

“Today’s decision by Ayco is a clear validation that the Capital Region can appeal to large organizations that can do business anywhere,” said Center for Economic Growth President and CEO, Andrew S. Kennedy. “This region has the talent, resources, sites and unmatched quality of life to ensure Ayco thrives, and their continued presence here enhances CEG’s ability to attract new investments and jobs to the area.”

“Ayco has been located in the Capital Region since its inception over 45 years ago,” said Ayco CEO, Tim O’Hara, “and we are thrilled to have the opportunity to invest in the stability and growth of the area.”

Designed by Syversten Rigosu Architects, PLLC., the new LEED-certified building will be four stories with approximately 150,000 square-feet of professional office space, including a cafeteria and meeting spaces.

Ayco has also applied for financial assistance through the Town of Colonie Industrial Development Agency.

About Ayco: With a rich history in the areas of financial counseling, financial education and investment services, Ayco develops and assists in implementing holistic financial solutions to help our clients achieve their goals. Our clients include Fortune 1000 corporations, entrepreneurs, high-net worth families and individual investors. Learn more at www.ayco.com.