Albany Business Review: Pioneer's plan for a redeveloped Delmar branch reflects the bank's current real estate strategy
6.18.25
"Pioneer's redevelopment plans for its Delmar location reflect its current real-estate approach in an era where bank branches see fewer visits but remain important, according to CEO Tom Amell.
The gist of the strategy: Own the real estate, downsize the branch's footprint and bring in a tenant to help defray the cost.
The Colonie-headquartered community bank recently filed plans with the town of Bethlehem to demolish its aging branch at 184 Delaware Ave. — a property it owns — as well as a small medical spa office next door, which it purchased in March for $350,000, according to public records.
A new 2,175-square-foot branch — roughly 25% smaller than the current one — would be constructed near where the med-spa building now stands, and a 2,421-square-foot coffee shop, complete with a 500-square-foot outdoor patio and drive-thru, would supplant the to-be-demolished bank."
Read the full story from the Albany Business Review here.