Troy Community Land Bank Takes on Three Vacant Properties
TROY, N.Y. — At its most recent board meeting, the Troy Community Land Bank (TCLB) Board of Directors voted to invest $1.1 million into the rehabilitation of three long-vacant properties in the City of Troy, signaling another major step forward in the Land Bank’s mission to return blighted structures to productive use.
According to a press release, the approved properties — 834 River St., 871 River St., and 3340 6th Ave. — will be transformed into quality residential and mixed-use housing options, creating a total of eight new units, including one commercial storefront. The average construction cost across the three projects is $138 per square foot, or $136,000 per unit — a reflection of the Land Bank’s commitment to efficient, high-quality redevelopment.