Monumental Help From State to Revitalize Downtown Troy [PICS]
Millions of dollars have been granted to help a massive project to revitalize downtown, Troy. Last year the project at One Monument Square finally got the go-ahead from the town planning board and will now get financial help from the state.
What Was Approved Last Year?
There is a lot of development slated for One Monument Square in downtown Troy but one part was finally approved last year. It was the six-story building near One Monument Square that will include ninety-two apartments for a total of one hundred and ten bedrooms.
There will be retail and commercial space on the ground floor totaling 19,890 square feet. Plus a double-deck underground parking garage that will have 115 parking spaces. Included is also a public plaza that will have seating areas and beautiful landscaping with views of the Hudson River.
How Much Money Has The State Approved For The Project?
According to the Albany Business Review, Assemblyman John McDonald moved to secure the nineteen million dollars in the New York state budget. It is earmarked specifically for the redevelopment of One Monument Square.
Assemblyman McDonald said of the funds,
The project checks many boxes when it comes to investment in public infrastructure, renewable energy, waterfront redevelopment, workforce development, and workforce housing and I am appreciative of the support of Governor Hochul and her administration for their support.