With Phase One Completed, the New Grocery Store Will Help to Combat Local Food Insecurity
River Street Project Well Underway to Create 72 Mixed-Income and 123-Unit Senior Housing Facility
Governor Kathy Hochul today announced the completion of the 20,000-square-foot Bargain Grocery, an affordable grocery store located at 558 River Street, representing phase one of the $75 million mixed-use Flanigan Square development on River Street in Troy, Rensselaer County. Developed by First Columbia, the project spans three buildings and will include more than 200 units of housing, including low-income and senior housing and more than 40,000 square feet of commercial space. Located within Troy's Downtown Revitalization Initiative district, the transformational project will help to address local challenges like housing and food insecurity in one of the Capital Region's most economically distressed census tracts and create a destination along the waterfront that will fuel regional growth and development.
“The completion of Bargain Grocery is another way we are addressing food deserts in our communities, and Flanigan Square epitomizes the kind of redevelopment we are striving for that will transform our downtowns,” Governor Hochul said. “Through investments in developments like this one, my administration is helping to increase the housing supply, address longstanding issues like food insecurity, and creating vibrant, dynamic neighborhoods all over New York State that will help drive the regional economy forward.”
“Today’s celebration of the completion of the Bargain Grocery is a milestone that will help ensure healthy food is available in North Troy,” Lieutenant Governor Delgado said. “And will also bring us one step closer to affordable and accessible housing and services that will only help strengthen our communities.”
Bargain Grocery was first launched due to the lack of accessibility to food in the West Utica area. Operated by the Compassion Coalition, a nonprofit serving Utica and Central New York, it has expanded its Bargain Grocery to the Capital Region. Forty percent of all food in America is wasted each year, as good, edible food is discarded out due to aesthetic appeal, packaging issues, or mis-ordering. Bargain Grocery offers quality, healthy food at affordable costs to a region with food insecurity while also working to combat food waste. Compassion Coalition also provides discreet financial assistance to those in need. Compassion Coalition has partnered with growers, distributors, and large corporate donors to bring food access to communities to combat food waste, and proceeds from the store have allowed them to give more than $50 million in donated goods each year and serve more than 350,000 individuals yearly.
The Flanigan Square project sits in the northern end of Troy's Downtown Revitalization Initiative zone, which was awarded in 2021. The compact Riverwalk DRI District contains a large portion of the city's arts, cultural, and entertainment assets, including over one and a half miles of riverfront. As part of the $10 million award, 11 total projects were selected for funding, designed to enhance the area's vibrant arts and culture scene, walkability and connectivity, housing opportunities and community services.
The Flanigan Square transformation includes three locations - 547, 549 and 558 River Street - in Downtown Troy. At 547 River Street, the project includes a 68,000 square-foot conversion of office space into 72 residential units – more than half of which will be designated low-income units. Additional interior and exterior renovations will create more than 40,000 square feet of commercial space, with plans for an exterior glass-enclosed rock-climbing wall and gym. Additional site work includes walking paths, electric vehicle charging stations, and improved parking. Next door at 549 River Street, First Columbia is planning to build a senior housing facility with 123 units.
The $75 million project is being supported by up to $6.7 million in Empire State Development (ESD) grants, including $3 million from the Capital Region's Upstate Revitalization Initiative fund. ESD has also awarded the project up to $9 million in New Market Tax Credits, which are designed to spur community development in lower-income areas of the state. Additionally, the City of Troy is contributing $400,000 from its American Rescue Plan Act allocation. The project will create nine jobs and is expected to generate more than 120 indirect jobs locally.