[4] After its closure, the Union Station was sold by Penn Central to the city of Schenectady in 1970 for $20,000.

[5] After the takeover of passenger trains by Amtrak, talks began about moving the Schenectady stop from Colonie back to its original location.

The new station decimated ridership at Colonie-Schenectady, which was closed on September 9, 1979 to allow trains to operate at full speed between Albany and Schenectady.

[10] The Capital District Transportation Authority (CDTA) received a US $4.2 million grant for the construction of the planned structure in October 2010.

[11][12] In August 2015, the Metroplex Development Authority sold Amtrak 2,400 square feet (220 m2) of parking lot that was intended to allow for construction of a temporary station to begin immediately, followed by the demolition of the 1979 building and construction of the replacement station.

[17][15] The station has two floors with a golden dome topped with a weather vane shaped like New York state and large arched windows and expanded seating.

The inside features images of the Erie Canal and the former American Locomotive Company train yard and include other memorabilia to illustrate the city's history.

The facility also includes retail space, charging stations and digital display boards to provide information.

In March 2020, Adirondack and Ethan Allen Express service at the station was suspended indefinitely, with trains being truncated to Albany–Rensselaer station as part of a round of service reductions in response to the ongoing coronavirus pandemic.