New Apartments Planned for Old Troy Warehouse
TROY, N.Y. — It is a problem all across Upstate New York: old industrial buildings at the end of their useful lives, sitting abandoned and rotting away.
In Troy — which preserved much of its architecture, even during the urban renewal period — there is an over-abundance of such structures. Many of them have become valuable reconstruction projects in an era when "old" is the new "new." Many of the buildings remain partially or totally vacant, though, including a number of old factories, warehouses and homes.
Make that one less as of Monday morning.
"We love being able to do preservations," said Susan McCann, standing outside the former Mooradians Furniture warehouse at 599 River Street. The warehouse itself was a repurposed shirt collar factory, its construction dating back to 1899.
Now, thanks to McCann's company The Community Builders, the seven-story complex will be called Tapestry on the Hudson, and house 67 single- and multi-person apartments. Construction has already begun this spring, with a planned opening in 2017.
The "Tapestry" building will be unique in its mission: offering upscale but affordable apartments to every income bracket, including those who need hefty government housing assistance. Fifteen of the apartments will also be dedicated to housing Troy's homeless population.
"I've been doing this 30 years of my life," McCann said of her job. "And the most successful developments are the ones with people who are working and people who are not working ... where people can see others of different demographics.
"It really does work best when a community is mixed."
The Community Builders has a history of similar projects all across the United States. McCann says most of them are rebuilding projects that feature a low- and middle-income focus. The apartments in Troy will range from $700-$1,200 in monthly rent.
A tour of the building on Monday afternoon revealed a dedication to historical detail, including exposed brick walls, original hardwood floors and exposed wooden beams in the ceilings. Construction crews will building dividing walls between the structural columns to divide each floor into roughly 10 apartments.
Applications are now being accepted, with a housing lottery planned for 2017.
"We expect it to be very, very popular," said McCann.