City of Troy wins $10 million for Revitalization Initiative

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The City of Troy is one of the lucky winners of the State’s Downtown Revitalization Initiative.

Governor Kathy Hochul announced on Saturday that the City of Troy will receive $10 million in funding to bring new life to the Riverwalk District. The grant is part of the state’s economic recovery efforts. She says the funding will focus on bringing new opportunities to invest in businesses, job creation and housing diversity.

Governor Hochul addressed city officials at the Franklin Plaza Saturday.

"The grassroots strategic vision for this project will ensure that Troy’s cultural and economic revitalization is responsive to the needs of the community and will create long-term prosperity," said Governor Hochul.

Troy joins the cities of Glens Falls, Hudson, Albany and Schenectady as winners of the first four rounds of the Downtown Revitalization Initiative.