Troy Industrial Development Authority Projects
*We are currently updating the Troy IDA Projects and only show a partial list as this time. All of the projects shown below are up to date as of December 31, 2018 and appear in more detail along with the complete project list on the 2018 PARIS Report.
The project located at 2-10 River Street will consist of the rehabilitation of a vacant warehouse building, formally Old Brick Furniture, into 80 apartment units. In addition to the work taking place in the building, a park is also proposed on the parcel. A portion of 245 First Street will be utilized for parking; approximately 100 spaces.
| Applicant: | 10 River Street, LLC |
| PO Box 6515 | |
| Albany, NY 12206 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $13,508,827.00 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 6/16/2017 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 2 |
| Current Number of Existing jobs | 0 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $21,707.50 |
| State and Local Sales and Use Tax: | $21,707.50 |
| County, Local and School Property Tax: | $100,000.00 |
| Total: | $143,415 |
| Current PILOT | |
| County: | $0.00 |
| Local: | $0.00 |
| School: | $0.00 |
| Total: | $0.00 |
This project consists of three buildings; 9 First Street, 16 First Street and 1-11 State Street. The three multi-story, mixed use commercial and residential buildings containing approximately 20,000 sf of rentable space. This project was most recently listed as 16 First Street, LLC and reassigned to Chestnut Bur, LLC in 2018.
| Applicant: | Chestnut Bur, LLC |
| 172 River Street, Suite D | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: Assignment Resolution: |
PDF |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $2,300,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 6/16/2017 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 28 |
| Current Number of Existing jobs | 45 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $59,939.30 |
| Total: | $59,939.30 |
| Current PILOT | |
| County: | $4,070.36 |
| Local: | $7,810.44 |
| School: | $12,170.51 |
| Total: | $24,051.31 |
This project consists of the rehabilitation of two, two story buildings containing 81 residential units.
| Applicant: | 25 Morrison Ave. Assoc., LLC |
| 172 River Street, Suite D | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $4,600,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 07/13/2016 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 2 |
| Current Number of Existing jobs | 2 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $154,682.07 |
| Total: | $154,682.07 |
| Current PILOT | |
| County: | $42,162.12 |
| Local: | $14,102.15 |
| School: | $27,084.05 |
| Total: | $83,348.32 |
This adaptive re-use, historic preservation project consists of 28 market rate apartments in a former school. The project was completed with environmental sustainability in mind.
| Applicant: | 2920 Fifth Ave. Assoc., LLC |
| 172 River Street, Suite D | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $1,891,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 07/12/2016 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 2 |
| Current Number of Existing jobs | 2 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $64,902.02 |
| Total: | $64,902.02 |
| Current PILOT | |
| County: | $1,658.31 |
| Local: | $3,184.32 |
| School: | $4,957.37 |
| Total: | $9,800.00 |
The project site is a 5 story commercial building that will be renovated to provide for multi-tenanted commercial facility and 10 market rate apartment units.
| Applicant: | 33 Second Street, LLC |
| 18 Division Street, Suite 401 | |
| Saratoga Springs, NY 12866 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $2,195,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 08/15/2014 |
| Existing Jobs Before IDA Assistance: | 5.5 |
| Original Estimate of Jobs to be Created/Retained | 26.5 |
| Current Number of Existing jobs | 7 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $47,263.97 |
| Total: | $47,263.97 |
| Current PILOT | |
| County: | $5,455.05 |
| Local: | $10,467.45 |
| School: | $16,299.79 |
| Total: | $32,222.29 |
This project will renovate a vacant, 5-story commercial building into approximately 7,600 square feet of commercial and retail space on the first floor and 75 loft style apartments for varied incomes on the upper floors.
| Applicant: | Vecino Group New York, LLC |
| 305 W. Commercial Street | |
| Springfield, MO 65803 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $17,950,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 08/30/2017 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 3 |
| Current Number of Existing jobs | 45 construction jobs |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $496,298.22 |
| County, Local and School Property Tax: | $28,130.65 |
| Total Exemptions: | $524,428.87 |
| Current PILOT | |
| County: | $0 |
| Local: | $0 |
| School: | $0 |
| Total: | $0 – Full Taxes |
| Applicant: | 599 River Street Limited Partnership c/o The Community Builders |
| 90 State Street, Suite 602 | |
| Albany, NY 12207 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $22,278,400 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 02/25/16 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 3 |
| Current Number of Existing jobs | 3 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $140,073.21 |
| Total Exemptions: | $140,073.21 |
| Current PILOT | |
| County: | $6,906.04 |
| Local: | $13,283.80 |
| School: | $20,814.16 |
| Total: | $99,069.21 |
| Applicant: | 701 River Street Associates, LLC |
| 172 River Street, Suite D | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $10,585,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 03/09/18 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 17 |
| Current Number of Existing jobs | 75 construction jobs |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $0 |
| Total Exemptions: | $0 |
| Current PILOT | |
| County: | $0 |
| Local: | $0 |
| School: | $0 |
| Total: | $0 – Full Taxes |
The third phase of City Station will be a five story, mixed-use commercial and residential facility that includes approximately 13,000 sqft of commercial and retail space, (48) units of rental residential housing and an underground parking structure with approximately 250 spaces.
| Applicant: | City Station East, LLC |
| 300 Jordan Road | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $14,418,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 09/10/12 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 9 |
| Current Number of Existing jobs | 5 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $313,660.86 |
| Total Exemptions: | $313,660.86 |
| Current PILOT | |
| County: | $12,017.29 |
| Local: | $23,075.85 |
| School: | $35,924.69 |
| Total: | $71,017.83 |
The second phase of City Station will consist of four stories of residential housing.
| Applicant: | City Station South, LLC |
| 300 Jordan Road | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $7,600,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 03/01/12 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 5 |
| Current Number of Existing jobs | 1 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $177,025.03 |
| Total Exemptions: | $177,025.03 |
| Current PILOT | |
| County: | $6,049.44 |
| Local: | $11,616.26 |
| School: | $18,084.30 |
| Total: | $141,275.03 |
The first phase of City Station will be a five story mixed-use commercial and residential facility that will include approximately 21,000 sqft of commercial and retail space and (48) units of rental residential housing. The first floor level will accommodate 8 different retail users and a lobby with administrative offices and elevators to serve the upper four floors of residential student housing. A rear entrance lobby will exit onto the parking area with 31 parking spaces.
| Applicant: | City Station West, LLC |
| 300 Jordan Road | |
| Troy, NY 12180 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $12,835,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 01/26/11 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 44 |
| Current Number of Existing jobs | 8 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $315,379.55 |
| Total Exemptions: | $315,379.55 |
| Current PILOT | |
| County: | $13,235.72 |
| Local: | $25,415.49 |
| School: | $39,567.07 |
| Total: | $78,218.78 |
This project consists of a complete renovation of a 3 story building containing approximately 34,000 sqft of commercial office space.
| Applicant: | Columbia Chasan Realty, LLC |
| 302 Washington Ave Ext. | |
| Albany, NY 12203 | |
| Application: | |
| Authorizing Resolution: | |
| Project Agreement: | |
| PILOT Agreement: | |
| Total Project Amount: | $5,400,000 |
| Bonds Issued (Y/N): | No |
| Current Amt of Bonds Outstanding: | N/A |
| Date Project Approved | 11/28/11 |
| Existing Jobs Before IDA Assistance: | 0 |
| Original Estimate of Jobs to be Created/Retained | 58 |
| Current Number of Existing jobs | 57 |
| Current Tax Exemptions | |
| Mortgage Recording Tax: | $0 |
| State and Local Sales and Use Tax: | $0 |
| County, Local and School Property Tax: | $124,605.00 |
| Total Exemptions: | $124,605.00 |
| Current PILOT | |
| County: | $7,844.16 |
| Local: | $15,088.27 |
| School: | $23,641.56 |
| Total: | $46,573.99 |