A local hotelier is building seven four-unit condominium buildings in the town of Milford on state Route 28 near Goodyear Lake.
“There’s always people looking for nice housing” in the area, which can be hard to find, Rainbow Hospitality Inc. owner and chief executive officer Bilal Ahmad said Thursday, Aug. 6. The new condos may be of interest to people who work at local hospitals, he said.
Ahmad, who owns multiple hotels in the area, said it was his first housing development. He added that he does not have plans for other housing developments in the area currently.
“It’s not weekly or monthly rentals,” Ahmad said of the project.
JML Construction is the builder for the project. During recent weeks, the wooden frame of the first building has filled out steadily and workers have begun to add house wrap.
Ahmad said that the development is split between three buildings at road level and the other four at a lower level, closer to the lake. Mostly identical aside from the upper level buildings planned to have garages, Ahmad said the condos will have 2,300 square feet of living space. Each unit will include a full basement, a ground floor with kitchen, dining and living rooms and a second floor with a master bedroom and secondary bedroom about the same size.
For the first building currently under construction, Ahmad said he was “hoping to be done by Christmas.” At that point, he said, he will have a better idea of pricing for sale.
“It all depends” on how construction plays out and market conditions, he said.
As stands, Ahmad said, the price will be roughly $450,000 to $500,000 to purchase a unit.
Ahmad and Erfan Khan purchased the property at 2306 state Route 28 and what was then the Red Carpet Inn in 2008, according to Daily Star archives. Before that, it was the site of Knott’s Motel On The Lake, which was built in 1963. The motel was built on the roadside in 1987. The buildings were demolished in 2024.
The project comes at a time when housing availability and affordability has become a frequent topic of discussion for community members in the region. The town of Oneonta has created a short-term rental committee to assess short-term rental impacts on housing and consider potential housing solutions, and the city of Oneonta is considering Good Cause Eviction legislation.