A $40 Million Project in Downtown Troy Once Delayed Gets Green Light
A $40 million dollar mixed-use building will be the fourth and final phase of the United Group of Cos. Inc's plan to complete the investment in downtown Troy.
What Will Be in the New Complex?
The $40 million fourth phase will be a mixed-use building. It will be called City Station North and built on the corner of Congress Street and 6th Avenue. The building is a 175,000-square-feet. Inside they are planning eighty-seven one and two-bedroom apartments. There will be a 40,000-square-foot office building and parking that will be covered and surface parking. The United Group which is building this complex will move its headquarters from East Greenbush to City Station North. This project has been delayed because of the pandemic. but now it can begin.
This is the final part of a $150 million project on the corner of 6th Avenue and Congress Street in downtown Troy. The first three phases consist of 151 apartments that are being used for Rensselaer Polytechnic Institute graduate students along with retail space on the bottom floor according to the Albany Business Review.
United Group of Cos. Inc's spokesperson said:
The spike in construction costs and labor shortages in 2021 and early 2022 has caused a delay, but we expect the construction costs to settle back down and normalize this year and we are going to wait until that happens before we start construction on City Station North.
Even though an actual date has not been given to get started on construction, the company believes that they will be able to begin construction this year.