Central Troy Historic District - Central Troy Today

Central Troy Today

The city has recognized the historic district in its zoning code. It divides the area into six separate districts — the Riverfront, First, Second, Third, Fourth Street and Fifth Avenue local historic districts. The Riverfront district includes the neighborhood to the northwest listed on the National Register as the Northern River Street Historic District. The other five are roughly aligned with the eponymous streets, with the First Street district consisting of two detached areas, the Second and Third street districts taking up most of the central area and the other two occupying the northeastern corner of the district. The city has also made some grants and tax exemptions available to qualified property owners. The city's current master plan calls for enhancing the district's mixed-use character, by encouraging both residential use and businesses that serve consumers, particularly retailers, and providing tax incentives for the rehabilitation of historic homes.

Troy's ordinances designate its Planning Commission as the Historic District and Landmarks Review Commission. Property owners in the district must get special permission from the commission for any work on their properties beside ordinary maintenance (and even for that in some cases), to make sure it leaves the historic character of the property and the surrounding buildings intact.

In 1989, the state added most of the district to Troy's Empire Zone. This economic development incentive gives businesses that locate in the included areas tax credits and exemptions to encourage them to locate there. The state has also moved some of its employees into the district, through the interventions of former State Senate majority leader Joseph Bruno, a resident of nearby Brunswick, who represented the district that included the city. He steered state grants towards the rehabilitation of the buildings that now house state government offices, as well as school aid that helped the city keep its property taxes low. City officials say his help has been vital, and will be missed following his 2008 resignation.

RPI has acquired several significant downtown properties, such as the Gurley and Rice buildings and Proctor's Theater, and renovated them to make homes for programs such as its Lighting Research Center, now housed in Gurley. In the early 2000s, it put $2.5 million into its Neighborhood Renewal Initiative, which has been used to help homeowners renovate homes and improve the city's infrastructure.

The private sector has also played a large role in revitalizing the area, even without public aid and incentives. Developers have been attracted to the historic buildings and their surrounding neighborhoods, calling it the city's strongest asset, although they have complained about past stalemates in city government. One initiative has often led to others. River Street's development into a center for antique stores came about without any public effort or intent, and the restoration of the music hall at the Savings Bank led to many new restaurants opening in the neighborhood. The blocks of River Street north of Monument Square have a dozen woman-owned businesses.

Developers, the city, and the colleges see downtown Troy's future as a center for high-tech companies and the good-paying jobs they provide. In addition to its historic character, the area has space available and is walkable. One local official calls Troy "the Silicon Valley of the 19th century". Some specific projects have capitalized on this. In 2005, the Cannon Building was redeveloped into an extended-stay hotel with the target market being visiting faculty at RPI and Russell Sage. In partnership with several private corporations, the city has also implemented a free wireless mesh network covering downtown. With money from the 2009 federal stimulus package, the city improved traffic signals and sidewalks at 18 intersections downtown.

The revitalization of downtown Troy has not been entirely without controversy over some of its historic buildings. A 2009 proposal to redevelop Proctor's by gutting its interior and converting it to office space led to serious opposition. Opponents of the plan organized a website and started an online petition against the use of any state funds for the project. Proponents, including the head of the city's Downtown Collaborative, said that after three decades of the vacant building's deterioration, any redevelopment proposal should be seriously considered, regardless of its impact on the building's historic character.