SCHENECTADY — Schenectady’s downtown gastronomic offerings should include burritos in the foreseeable future.

Bombers Burrito Bar, currently a Lark Street operation in Albany, is closing a deal with the Metroplex Development Authority for a downtown building to house its second site.

Bombers is purchasing a three-story building rather than its earlier plan of renting space within Center City, the Metroplex Development Authority announced Wednesday.

Bombers’ owner, Matthew Baumgartner, will buy 447-451 State St. from Metroplex for $500,000. He will pay half the price at closing and the remainder over the next 15 years at 5 percent interest to Metroplex rather than to a bank.

Baumgartner plans to convert the former James’ Boxing Gym site into a restaurant on the first floor and banquet space, using a $250,000 loan from Metroplex and $620,000 of his own money.

In addition, Metroplex will provide Baumgartner with a $40,000 grant to install sprinklers on the three floors and to fit-up the restaurant. It also will provide him with a $75,000 facade grant. Metroplex Chairman Ray Gillen said the building’s 100-year-old facade requires a complete makeover.

Baumgartner has told Metroplex the restaurant will employ 15 people by 2010. Metroplex renovated the 7,620-square-foot building with skylights and new windows in 2007.

Bombers was originally slated to go into 3,000 square feet on the ground floor of the Grant Building. The building, which was built in 1928, stands adjacent to the more modern Center City complex. That space will likely become a new ground-floor entrance to Center City, Gillen said.

The 447-451 State St. building Baumgartner is purchasing was initially going to house LaSartoria, an apparel store.

Vincent Montesanto was to purchase the building from Metroplex for $250,000. He planned to employ five people by 2010.

Montesanto will remain in downtown Schenectady and open his new shop several doors down from Bombers, Gillen said. He will lease rather than purchase.

Montesanto has been in business for some 20 years and has operated a shop on Broadway in Saratoga Springs since 1991.

“It worked out very well. Baumgartner is getting more space and we are getting twice the price for the building and 5 percent on the loan we are giving him,” Gillen said.