Organization Name: The Community Preservation Corporation & The Community Builders, Inc.
Project Title: Tapestry on the Hudson
Project Location: North Central Troy, New York
The goal of the development is to preserve and transform a vacant, historic shirt collar-manufacturing building into mixed-income rental housing. Located adjacent to Troy’s downtown, Tapestry on the Hudson will provide housing for low- and middle-income residents including 15 supportive housing units. The project also features a number of innovative energy conservation measures that will help reduce its carbon footprint, improve overall maintenance and operations, and help keep the building affordable. Tapestry on the Hudson is part of a larger reinvestment effort to preserve the history of the “Collar City” and supports a live/work environment while keeping it grounded in its history through a smart growth approach.
Tapestry on the Hudson repurposes a historic 6.5-story building constructed in 1899. The multifamily rental development consists of 67 units, and serves a diversity of incomes levels – including 30%, 50%, 60% and 90% of the area medium income. The development boasts many sustainable and energy efficiency measures including a geothermal HVAC system for heating and cooling and a gas powered central hot water heater. Units will be individually equipped with meters and thermostats to support energy conservation and allow for water leak detection. The building will also be wired photovoltaic-ready for future solar electricity generation. In addition, the development involves the reconstruction of a seawall and the building of an elevated green space, irrigated with rainwater from the roof of the main building. Residents have the opportunity to participate in community gardening in the green space, and utilize the Troy Bike Path along the seawall at the rear of the property.
Curled along the Hudson River, the city of Troy, NY teems with rich history & time-worn Victorian-era buildings. Now many of the area’s abandoned warehouses & forgotten spaces are being repurposed & infused with new life. Tapestry on the Hudson integrates into the city’s larger redevelopment efforts by adding 67 units to a community with a critical shortfall of quality affordable & supportive housing.
Tapestry on the Hudson’s mixed-income structure addresses the multiple needs of the community by incorporating deep affordability, supportive services, & leading-edge energy efficiency measures. Developed concurrently with other community revitalization projects in North Central Troy, including the Capital District Community Garden’s Urban Grow Center & the Capital District Transportation Hub, the project transforms blight into a resource of housing & economic opportunity. Tapestry on the Hudson offers the keys to opportunity for both its residents & the surrounding community.
This project came to fruition through a partnership between The Community Preservation Corporation (CPC) and The Community Builders, Inc. (TCB). TCB is one of America’s leading nonprofit real estate developers and owners. Established in 1964, TCB develops housing for families and seniors, and invests in local businesses and public amenities that strengthen neighborhoods. Their mission is to build and sustain strong communities where people of all incomes can achieve their full potential. Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. They provide innovative capital solutions, fresh thinking and a collaborative approach to the often complex challenges that owners and developers of multifamily housing face.