Reconstruction of the road is on schedule to begin during the spring. While this certainly dovetails with the economic redevelopment we plan for the area, it is a separate, and much needed project. In fact, the road reconstruction will consist of more than $6 million in improvements, most of which will be paid for with grants from the federal and state government.
The road reconstruction will slow down traffic in the corridor, improve pedestrian access, and most importantly make it a more aesthetically pleasing place.
The economic development of the site should begin shortly thereafter in an attempt to limit the negative impact the project will have on local residents and visitors. What it will bring to the area is the current discussion taking place. We know there will be a mix of housing and retail along the south portion of the corridor. The possibility exists for a hotel to be placed on the site, in addition to additional commercial properties. The potential for this site is truly limitless, particularly when positioned next to the growing RPI campus.
Below is a recent picture of the Experimental Media and Performing Arts Center, or EMPAC, that Rensselaer is scheduled to open up next fall.
As has been discussed on this blog and throughout the City for quite some time, there is a significant amount of interest in the redevelopment of Troy. When this project officially gets underway early next year, it will be one of the main reasons for all the talk.
Have a great holiday weekend, be safe!