The Northern Border Regional Commission (NBRC) has earmarked $1 million in Economic & Infrastructure Development grant funds to assist Troy, N.Y., with its One Monument Square infrastructure redevelopment plan.
“Investing in our Capital Region infrastructure creates good-paying jobs, improves our regional economy, and enhances our public spaces,” Rep. Paul Tonko (D-NY) said. “Now more than ever, we need to step up and support these transformative projects that add so much to our communities. My heartfelt thanks to all whose vision and dedication continue to move the development of this historic One Monument Square project forward.”
Tonko said he would continue to advance federal legislation investing in the nation’s infrastructure to create a better future for the Capital Region and beyond.
“We are thrilled to receive assistance from the Northern Border Regional Commission for the redevelopment of Monument Square,” Troy Mayor Patrick Madden said. “Grant funding awarded through the NBRC’s Economic & Infrastructure Development grant program will be critical to prepare this waterfront property for future construction, including critical sewer infrastructure upgrades, in partnership with the Troy Local Development Corporation and developer Hoboken Brownstone Company.”
Executive Director of the Troy Local Development Corporation Steven Strichman said the infrastructure grant, combined with funding the city has already secured, enables site prep work to begin next year based on plans Hoboken Brownstone develops over the coming months.