Group eyes factory for next project
TROY, N. Y. » A former old cuff and collar factory on River Street will soon be transformed into an apartment building, if developers receive final public approvals.
Plans for the vacant 100,000- square- foot, six- story building include creating a mix of 90 studio, one- and two- bedroom apartments and first- floor commercial space at 701- 715 River St., in the city’s North Central neighborhood.
The project, projected to cost roughly $ 10 million, is a joint venture between Troy- based Redburn Development and PAZ Management of Poughkeepsie. PAZ, which primarily focuses on healthcare, originally planned to create an assisted living facility at the site, but started talking with Tom Rossi of Redburn Development — which recently completed the nearby School One Lofts project — and the developers decided to join forces.
The project, which is yet to be named, is meant to compliment the School One Lofts, offering smaller apartments. Most of the units range from 700 to 800 square feet and will be rented at market rate. About half of the apartments’ rent will be less than $ 1,000 per month.
The units will be nice and new, but still reasonably priced, Rossi said, noting the pricepoint is not as expensive as nearby downtown Troy. Rossi described the project as everyday housing, but upscale, “an apartment that appeals to people,” he said, with units including such features as granite countertops and stainless steel appliances. Some apartments will also have views of the Hudson River.
On the building’s first floor, 4,900 square feet will be dedicated as retail space. Outside, the property is planned to include a park, a boat launch and 150 parking spaces.
“I think it’s going to be really nice when everything is done there,” Rossi said. “We’re really excited. I think it’s going to be a great project.”
Like other Redburn projects, this will have sustainable, energy- efficient systems and an “allin living” option for residents that includes heat, air conditioning, electricity, water, television and internet.
The project has received conceptual approval from the city, but developers are working with officials to purchase a small section of street that runs behind the building before finishing a final site plan, which will then be submitted for approval. Rossi said he hopes construction on the project can begin this fall, with the building possibly opening as early as May or June 2018.
The building, which has been vacant several years, was originally the Searle, Gardner & Co. cuff and collar factory, built in 1888 and 1889 in response to he increasing demand for factory- style manufacturing of detachable collars and cuffs for men’s clothing, and was augmented during the first half of the 20th century. The National Register of Historic Places calls the factory “one of a number of largescale, turn- of- the- 20th century industrial buildings which represents Troy’s national preeminence in the collar- and- cuff manufacturing industry at that time.”
The site continued to house textile production until the mid- 20th century and is commonly knownas the Marshall Ray Building for the sportswear company that was the last clothing manufacturer to use the building.
Rossi said people may not realize all that is going on in North Central. Aside from the School One Lofts, a former city school that was repurposed as an apartment building, another nearby textile factory-turned- apartments project in the area, Tapestry on the Hudson, opened earlier this year. Rossi said he hopes this latest largescale project can serve as a continued catalyst for growth in the neighborhood.