72 New Apartments Soon Available at Flanigan Square in North Central Troy
72 New Apartments Soon Available at Flanigan Square in North Central Troy
First Columbia Now Pre-leasing, Move-in Starting January
TROY, N.Y. (Dec. 20, 2024) — Regional Developer First Columbia has started pre-leasing 72 newly renovated apartments on the Hudson River on the edge of Troy’s downtown district.
Flanigan Square Lofts is a part of the multi-year Flanigan Square Transformation Project, a public-private partnership led by First Columbia, which consists of a mixed-use approach to add much-needed food, jobs, and housing to the neighborhood along downtown Troy’s northern boundary.
“The Flanigan Square Transformation Project represents First Columbia's unwavering commitment to fostering economic growth and revitalization in North Central Troy. By blending historic preservation with modern adaptive re-use, this development strengthens the neighborhood's physical beauty and economic viability,” said First Columbia Project Manager Nathaniel Bette. “We are proud to lead this transformative effort and invest in a brighter future for the City of Troy.”
Rents range from $1,200-$2,475 in the historic mixed-used five-story Flanigan Square building located at 547 River St.
The assortment of residential units includes studios, one-bedroom, and two-bedroom configurations, with additional options for dens and lofts. Each unit features generously sized bedrooms and contemporary stainless-steel appliances. Additional amenities include in-unit washers and dryers, built-in closets and abundant storage options. Residents benefit from riverfront water views, dedicated parking and the convenience of an on-site property management team.
Construction is underway and new units will become ready for occupancy each month, floor-by-floor, staring with the second floor in January. A model unit will be available for viewing in January.
The building’s first story will feature street-level retail and a daycare center. First Columbia is in talks with other retailers but interested commercial tenants are encouraged to inquire about other available spaces by contacting Cecelia Bette 518.213.1005 [email protected].
There are office spaces available in the rear of the building. A Central Rock Gym fitness facility is under construction adjacent to the building’s south side, with an expected Spring 2025 opening.
Across the street from Flanigan Square Lofts is Bargain Grocery Troy. This newly opened neighborhood grocery store offers fresh, healthy food at an exceptionally affordable price, creating food access for everyone. There is also an Extra Space Storage facility down the road along with First Columbia’s co-working space, The Works, nearby in the former Cluett Peabody & Co. building at 433 River Street. A short walk along the RiverWalk trail takes residents to Troy’s bars and restaurants, such as; Ryans Wake Public House, Brown’s Brewing Co., Emry’s Garden and Dinosaur Bar-B-Que.
“We’re excited to offer market rate apartments in this beautiful building where you don’t even have to drive to do all your grocery shopping,” Bette said. “Very soon, it will be possible for someone living here to drop off their child at daycare downstairs, co-work for a few hours down the street, get in a good workout at the rock-climbing gym and buy all their groceries on two blocks of this street.”
For information, visit: https://www.flanigansquarelofts.com
About The Flanigan Square Transformation Project
The “Flanigan Square Transformation Project” is an approximately $75 million socially impactful, environmentally conscious, transit-oriented and community informed master plan, located at the 500 block of River Street along the Hudson River waterfront in the historically underinvested North Central neighborhood of Troy.
The transformation includes the renovation of the Flanigan Square building at 547 River St., which is underway, the creation of the recently opened Bargain Grocery Troy store, construction of the rock gym which is underway and a planned 123-unit senior housing facility.
The project is financed through a public-private partnership, with funding provided on the federal, state, and county levels.
Additional financing partners include Empire State New Markets Corporation, Mid-City CDE, the New York State Division of Housing and Community Renewal, Foss & Co., Empire State Development, M&T Bank and a PILOT agreement with Rensselaer County.
Additionally, the City of Troy is contributing $400,000 from its American Rescue Plan Act allocation.
Publicity Photos Attached
1. Photographic rendering of Flanigan Square Lofts, 547 River St., with available street-level retail space and adjacent Central Rock Gym fitness facility currently under construction. (photo courtesy of First Columbia)
2. Drone photograph of Flanigan Square neighborhood and adjacent Hudson River (photo courtesy of First Columbia)