Longstanding plans to build a 124-room hotel on the waterfront in downtown Troy, New York are expected to take an important step forward today.
The Troy Industrial Development Authority is scheduled to meet this morning and set a public hearing on the request by developer First Columbia for financial assistance to build the hotel next to the office building it owns, Hedley Park Place, on River Street.
The five-story, Marriott Courtyard hotel would rise at 515 River St. on a 1.5-acre parcel that was once the Hedley Cadillac dealership. It’s now a parking lot that serves the office building.
First Columbia first proposed the hotel eight years ago as part of a $60 million redevelopment that includes upscale apartments, retail stores, a restaurant/banquet facility and 650-space parking garage in the so-called Hedley District.
The project stalled for various reasons. Last November, First Columbia President Kevin Bette said he was going to push forward again.