Begins the Fourth Phase of $42 Million, Multi-Phased Development Designed to Bring Revitalization and Housing Opportunities into Downtown Troy
Governor Kathy Hochul today announced the groundbreaking for City Station North, a mixed-use development that totals nearly 175,000 square feet in downtown Troy along Congress Street and Sixth Avenue. The four-story building will consist of 87 one- and two-bedroom apartments, 40,000 square feet of Class A office space, 154 parking spaces, and a host of building amenities including a rooftop terrace, energy-efficient smart heating/cooling systems, fitness center, and high-speed internet in common areas. The $42 million development by United Group is being supported by a $1.7 million capital grant from Empire State Development, recommended by the Capital Region Economic Development Council.
“We are committed to growing housing opportunities for all New Yorkers in every corner of the State, and City Station North is a perfect example of public/private partnerships that are making a difference,” Governor Hochul said. “Investing in our downtowns while providing opportunities where people can have a variety of options to live, work and play is a winning combination for economic success and leads to more affordable communities across the state.”
City Station North is the fourth phase of a multi-phased development designed to bring revitalization into Downtown Troy. Between 2009 and 2013, United Group has invested more than $60 million into City Station West, South, and East, turning the current City Station neighborhood into a revitalized area that has dramatically enhanced the East corridor as an appealing entryway into the heart of the city. City Station North will further expand on this progress and will improve the housing stock in the City of Troy and help revitalize an area that is located in an impoverished census tract. In addition to this current funding, Empire State Development supported the first phase of the City Station project with a $2.5 million capital grant for an earlier phase of the project.
Empire State Development President, CEO and Commissioner Hope Knight said, “City Station North has made substantial progress revitalizing Troy’s urban center and complements major state investments to revitalize the City’s downtown core, including investments in Flanagan Square and the Downtown Revitalization Initiative. ESD is proud to support the United Group’s transformation of this section of Troy which will offer much needed affordable housing opportunities and will increase the economic potential of the community.”
Read the full press release here.