A new restaurant has closed on a deal to move-in to the Electric City next summer. And its soon-to-be neighbors are excited for the extra spice. Our Erin Vannella reports.

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SCHENECTADY, N.Y. -- "It's the remaining undeveloped corner of our 100 percent block which is the corner of State and Broadway," said Schenectady County Legislature Majority Leader Gary Hughes.

It's soon to be developed by Mexican Radio, a restaurant already made popular by locations in Hudson in New York City.

"My understanding is that the growth and strength that the green market has shown is one of the reasons they are pretty optimistic this is a great location for them," said Hughes.

Owners will spend $3 million to gut two floors of the former OTB for their restaurant and renovate the third for loft apartments and office space. Metroplex is contributing $200,000. State Street neighbors extend a warm welcome.

"They're going to put that much money into a business in a really great location," said Happy Cappuccino barista Brittany Allen. "That's probably going to be a hot spot and that's just going to help Schenectady overall."

"There's a lot going on with Proctor's coming in season, more restaurants, more places for people to eat, hopefully it'll bring more people down here in general," said Bomber's manager Paul Tracy.

City leaders say more private money is helping to revitalize the city's downtown, making it more walkable, more desirable, and more sustainable.

"Originally when I first moved here in 2003 it was like don't go downtown, it's scary, it's terrible," said Tracy. "Now it's home again. It's homey."

"You know there's a lot of really humble honest working people that work around here and I love it," said Allen. "I won't go anywhere else. Schenectady is where it's at."