Troy Housing Authority partners with City of Troy and Pennrose Development to remove the long-vacant apartment towers along the southern edge of downtown Troy waterfront.
The development, funded by the City’s allocation of American Rescue Plan funds (Troy Now Initiative), allows THA and Pennrose to move forward with approved plans for constructing the first of three new, modern, workforce housing with ground floor commercial space.
Project coincides with planned reconnection of River Street through the Taylor Apartments site, unlocking 200+ acres of waterfront land for redevelopment in South Troy.
TROY, N.Y. (June 23, 2022) –The City of Troy is redeveloping the John P. Taylor Apartments on River Street as part of their ongoing effort in revitalizing the city’s waterfront and improving the important gateway around the Congress Street Bridge and Route 2 corridor.
“Demolition of the long-vacant Taylor apartment towers is a very exciting project that will have a big impact on our community,” said Troy Mayor Patrick Madden. “Not only will this provide high quality, affordable housing to residents, but it will also create a whole new experience for accessing the waterfront and the businesses in our downtown. We are thrilled to help fund the demolition phase of this project through the city’s federal American Rescue Plan funds, part of the federal pandemic recovery effort led by President Biden, Senate Majority Leader Chuck Schumer, Senator Gillibrand, Congressman Tonko, and congressional leaders in Washington, D.C.”
The Troy Housing Authority awarded the demolition contract to The Pike Company which has obtained permits to begin the demolition process this summer. Philadelphia-based real estate developer, Pennrose, received planning approval earlier this year for the Phase 1 plans to construct a seven-story building, featuring 141 modern apartments, storage, and other building amenities in addition to approximately 2,150 sq. ft. of ground level commercial space. The improved apartments will feature efficient, open floor plans, tenant-controlled air conditioning, and modern appliances, including a dishwasher, washer and dryer all within the units. Other amenities include a fitness center, recreation room and rooftop terrace.
“We are excited to work closely with the City of Troy, the Troy Housing Authority, and our project partners as we take the next step in the Taylor Apartments revitalization,” said Dylan Salmons, Regional Vice President of New York, Pennrose. “The comprehensive plans will transform an underutilized site to create brand-new, high-quality affordable housing and serve as a catalyst for continued investment in and around Troy’s
downtown historic district.”
Originally constructed in 1954, the Taylor apartment buildings housed hundreds of low-income families. However, they have remained vacant since 2005. Demolition of the apartment buildings will begin over the summer with an anticipated completion in the winter.
“The demolition of Troy Housing Authority (THA) Taylor Apartment Buildings 1 and 2 has been discussed for decades, and to finally see this critical affordable housing and waterfront gateway project move forward demonstrates the power of partnerships,” said Troy City Council President Carmella R. Mantello. “This project is a model for the American Rescue Plan Act, and I look forward to continuing to work with our private, federal, state and local partners on transforming our city and waterfront.”
“This is the start of a transformation for the residents of the Taylor Apartments, the Troy Housing Authority and the City of Troy,” said Troy Housing Authority Board Chair Sue Steele. “After the demolition, these buildings will be replaced with modern apartments that have all the amenities that today’s families want and need.”
“The Troy Housing Authority is grateful to the City of Troy and the U.S. Department of Housing and Urban Development for providing the funds needed for this demolition,” said Troy Housing Authority Executive Director Deborah Witkowski. “We also look forward to the redevelopment of this site by Pennrose with support from New York State Homes and Community Renewal.”
“Removal of the Taylor Apartment towers 1 and 2 is a huge milestone in the City’s collaborative partnership with the Troy Housing Authority and Pennrose to construct modern affordable housing and support the continued revitalization of Troy’s waterfront,” said Troy Deputy Mayor Chris Nolin. “We are proud to fund the demolition of these vacant properties through the Troy Now Initiative, and look forward to working with our federal, state, and regional partners to move this transformational project forward.”
For more information about the Taylor Apartment project visit troyhousing.org.