The Hedley District is a planned waterfront redevelopment project stretching over 800 feet of the Hudson River. When completed the development project will offer prime office space, retail, mixed use, residential units, parking, hotel, and more!
First Columbia’s purchase of the Hedley Park Place and Flanigan Square buildings in 2006 was done with a vision of a far greater mission. That vision has evolved into the 100 million dollar Hedley Waterfront Redevelopment Plan providing a major catalyst to Downtown Troy’s re-emergence as a dynamic center of innovation, culture, and community.
Situated on almost a half a mile of the Hudson River Waterfront, at the Gateway to the City, The Hedley Waterfront Redevelopment Plan will ultimately contain 425,000 square feet of commercial office space, a 120 room hotel, 50,000 square feet of retail services, a 900 car parking garage, and 175 units of market rate housing designed for young professionals. The synergy of this mixed-use plan will enhance the adjacent vibrant entertainment district, tie into the City’s educational roots, and light up the City.
A dynamic LED lighting plan, developed by the world-renowned RPI Lighting Institute will incorporate cutting edge technology into the streetscape and architecture of the proposed buildings. As visitors and residents enter Troy from its two main bridges, the Hoosick Street Bridge to the north and the Green Island Bridge to the south, they will see a dazzling array of beautiful, energy efficient illumination showcasing the technology of Troy and vibrancy of its nightlife.
While most urban mixed-use projects are dependent on attracting jobs for success, the Hedley Waterfront Redevelopment Project has a great start. After years of steady decline and the recent difficult economy, Troy has started to show an amazing drop in vacancy from 50% in 2009 to 22% currently. These new knowledge workers desire housing, entertainment, and retail services close by while also supporting existing shops and restaurants in the City.