The apartments, to be called Towpath Trail, are expected to be ready for occupancy by the first quarter of 2018, said Seth Meltzer, principal of Hudson Partners Development.
The name was inspired by the bike path near the property that, at certain points, was the towpath for the Erie Canal.
Rents for the 800-square-foot to 950-square-foot units will range from $1,000 to $1,200.
"We're bullish on the city of Schenectady multi-family demand, especially in light of the Rivers Casino and Resort," said Meltzer.
The casino is about 1.5 miles away, off Erie Boulevard.
The property where the apartments will be built is the same area where a previous townhouse development, Maxon Pointe, failed.
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