If the bricks of Troy could talk.
The city along the Hudson River, once an epicenter of the industrial revolution in the 1800s boasted an economy greater than New York City. Intersecting waterways were the main form of transportation fueling industrious Trojans who thrived along their banks. Shipping, textile and steel mills flourished and so did wealth. At one time, First Street became known as “Banker’s Row” with 22 financial institutions.
Many of these artfully adorned bank buildings, factories and department stores covering city blocks, interspersed with hotels, row houses and townhomes endure to this day. The city of Troy has seen economic ups and downs; and still, the architecture remains a testament to its past grandeur.
Today, entrepreneurs, fast-growth companies and forward thinking developers once again recognize the value of this river city and are dusting off the grit. Those with true insight who value the past are bringing dignity back to these stately buildings.
Factories
Repurposed
Local and out-of-state developers have brought Troy's monolithic historic factories into the 21st century.
How Troy's factories are seeing a new life (Video)
Once, these factories produced textiles, shirt collars and paint. Today, developers are converting the buildings into apartments, offices and retail space.
Albany Business Review — May 5, 2017
UNIQUE DEVELOPMENTS
GAMING HUB
Warner Brothers, Vicarious Visions, Velan Ventures and 1st Playable Productions are just a few of the many game developers located in historic buildings throughout Troy. The city was recently named one of three digital gaming hubs in New York by the state.
THE RISE
Jankow Companies is adding two floors to a downtown Troy office building located at the corner of Federal and 5th St. and turning it into 40 apartments, lots of tenant amenities including a co-working space and a commercial space on the first floor. Completion expected by Fall 2023.
ATRIUM APARTMENTS
A five-story, 118,000-square-foot apartment complex is planned for the southern end of the Atrium, bounded by Broadway, Third and Fourth streets. It will have about 100 apartments, a rooftop terrace and a facade designed to appear as if it's four separate buildings. The norther portion of the Atrium is redesigned for Troy's Winter Farmers Market.
MONUMENT SQUARE
After much controversy and years of planning the City of Troy and developer, Hoboken Brownstone Company have come together to create a showpiece in Troy's historic city center. Monument Square, along the Hudson River will be transformed into seven different style buildings, public gardens & walkways, retail, exhibits and 90 apartments with parking. Watch this space.
ROSENBLUM DEV.
On the coattails of completing two apartment complexes: The News (a 101-unit redevelopment project at the site of the former Troy Record building) and Vincia (80-units at 130th St.), the Rosenblum Companies will be replacing a vacant, suburban-style former bank branch and surface parking lot at 1818 Fifth Avenue in the historic downtown of Troy, with the City’s first zero-emission multifamily building.
AI CENTER OF EXCELLENCE
An Artificial Intelligence Center located at 19 Third St. is in the works to showcase AI capabilities, facilitate research & development, host events, support startups, and create AI solutions for customers. Partners include Microsoft, IBM, Columbia University, Rensselaer Polytechnic Institute and DeFacto Global.
FRANKLIN ALLEY
City of Troy, Rensselaer County and The Arts Center of the Capital Region have banned together to dramatically improve downtown's most central alley. New drainage, curbing and murals by artist Joe Iruato have turned a drab and scary backstreet into a beautiful pedestrian walkway.
INCITE
Located at 52 King St., Incite is a 55 apartment, 5-story complex constructed at the tune of $12.8M was completed in 2020. 1, 2, 3 and 4 bedroom apartments rent starting at $1,000 per month. The building also has 51 parking spots - most of them in a covered garage.
CITY STATION NORTH
City Station North is the fourth phase of the City Station neighborhood. It will be built along Sixth Avenue between Congress and State streets. The project, expected to cost $40 to $45 million, will be a mixed-use property, with 87 multi-family apartments and 40,000 SF of commercial office space.
INNOVATIONS
Tech Center of Gravity
innovation garage
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$1 million investment in 22-24 Fourth St. building to help startups and aspiring "solopreneurs"
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Focused on the “Creative Economy”
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To include freelance writers, web designers, social media promoters and Gramercy Communications, the building owner’s headquarters
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Space designed to facilitate communications and idea exchanges
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Walk-ins can rent space in the office for a day or on a longer-term basis, conference rooms and meeting rooms available
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Historic Quackenbush building reimagined and renovated to accommodate a growing technology and manufacturing industry
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New home of the Tech Valley Center of Gravity, a maker space and incubator used by students, inventors, entrepreneurs.
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Includes cutting-edge 3D printers, wood shop, metal shop and a commercial kitchen for cooking classes and demonstrations.
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eTextile classes combine fabric and textiles with electronics and is the foundation of wearable device prototyping
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AT&T, National Grid and NYSERDA are $MILLION sponsors
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Children’s 3D Printer program
Residential
For those interested in city-living, the lure to Troy is about being a part of a connected, walkable urban community.
According to apartments.com, in 2023 the average apartment rent in Downtown Troy is $1,167 for a studio, $1,343 for one bedroom, $1,946 for two bedrooms, and $2,533 for three bedrooms.
Within just a few years, more than
2,150
NEW UPSCALE
apartments have been created and are in development.
Built and rented = 1,159
In development = 991
TOTAL = 2,150
