Turnpike Redevelopment Group
Turnpike Redevelopment Group will redevelopment the former K-Mart site on Columbia Turnpike in East Greenbush. 95,810 of the site will be redeveloped for a commercial office and state of the art training facility in the practice areas of Child Care, Child Welfare, Juvenile Justice and Domestic Violence.
Valuspace Troy, LLC Project
This project consists of the demolition of an old building that was an eyesore along one of the busiest corridors in Rensselaer County. Construction has begun of a new 66,000 SF, 2 story, temperature controlled self storage facility and rental office with retail space for the sale of moving/packing supplies will take place off Hoosick Road, in the Town of Brunswick. This project creates 2 full time jobs.
Davey’s Realty, LLC Project
This project consists of the construction of a 14,000 sq. ft. Cole’s Collision Center on Route 4 in the Town of North Greenbush. The company estimates they will employ a total of 17 full and part-time workers.
Regeneron Pharmaceuticals, Inc. Warehouse Project
Regeneron will undertake the construction of a 2 story 211,600 sq. ft. warehouse with parking for 262 vehicles at Tempel Lane and Lisas Avenue in the Town of East Greenbush. Regeneron plans to add an additional 70 jobs within a 3 year period following completion of the project.
555-One, LLC Project
This project consists of the construction of a four story wood frame 140,000 sq. ft. 96 residential unit apartment building on the former Rensselaer High School site at 555 Broadway, in the City of Rensselaer. This project will create 3 full time positions.
The Record Building Project
501 Broadway Troy, LLC has purchased the former Troy Record newspaper building in downtown Troy. This historic building dating back to 1906 has been vacant since March 2015 after The Record newspaper operations moved to a smaller location. The plan is to renovate the existing building and construct a new addition. Once complete, the project will consist of approximately 100 apartments with some onsite parking, amenities for the tenants such as a fitness area, and a street level retail component for the public to enjoy.
Best Western Franklin Inn Project
The hotel, located at 1 Fourth Street in the City of Troy, plans to add a three story 28 room addition to the existing 60 room hotel facility. Due to increased activity in Downtown Troy there is a demand for more rooms. The hotel expansion will lead to the creation of approximately 11 new jobs over a five year period.
Great Brownfield Development Project
Working closely with federal and state environmental agencies, the IDA has been leading the effort to bring new life to the old Fort Orange Paper site in Castleton. The property which underwent a substantial remediation by the federal Environmental Protection Agency, is now the focus of a Brownfields Program Application submitted to the Department of Environmental Conservation (DEC) on behalf of Castleton Paperboard.
This major project which would feature a new highly-efficient state-of-the-art paper mill is a great example of how working in partnership with federal, state, and local officials, we can redevelop sites that will enhance our communities both environmentally and economically.
The project is progressing nicely with DEC approval of the remediation work plan submitted by the company, and meeting are scheduled to get the necessary agreements signed and a construction and operation timeline in place.
IDA Continues Support for Regeneron Facilities
Regeneron is widely acknowledged as one of the leading biotechnology/biopharmaceutical firms in the country, which is why we are pleased to work with them as they continue to expand their manufacturing/product supply facilities here in Rensselaer County. Regeneron is currently undertaking the construction of a 71,000 s.f. building with a pedestrian bridge and a parking lot. The company is also undergoing renovation to an existing 11,000 s.f. of manufacturing area and renovation of another existing 26,000 s.f. building. These additional projects will result in the creation of approximately 60 new jobs with the next three years.