TROY, N.Y. — Work is set to restart at the 100,000 square foot building at 701 River St. after a fire tore through the property in July.
The building—known as the Collar Factory Lofts—will house 77 apartments and 15,000 square feet of commercial space.
The historic structure is listed on the National Register of Historic Places and has been vacant for many years. Redburn and PAZ Management joined forces to redevelop the property and at the time of the fire, the building renovation was about 80 percent complete. Extensive structural and cosmetic damage left the future of the project in jeopardy. Consigli Construction has been hired to complete the effort.
“The teams at Redburn and PAZ were devastated after the fire,” said Tom Rossi, principal of Redburn Development. “When the smoke cleared, our only goal was to figure out how to again save this building we all love so much. Thanks to the heroic efforts of the Troy Fire Department, this important structure was not a total loss, and we are pleased to announce that reconstruction is set to start immediately.”
“We are committed to this building, and to the North Central Neighborhood,” said Jacob Reckess, vice president of PAZ Management, in a news release. “It took some time to work through the aftermath of the fire, but construction will resume in earnest and we will be welcoming new tenants to the Collar Factory Lofts in the summer of 2020.”
The building, originally a cuff and collar factory in the 19th century, sits prominently on the Hudson River Front in the factory district of North Central Troy.