TROY, NY – The Troy Community Land Bank has completed the full rehabilitation of 834 River Street, transforming a formerly vacant and underutilized 19th century rowhouse into three high quality affordable housing units that will remain under Land Bank ownership to ensure long term affordability and responsible stewardship.

The project represents an investment of approximately $350,000, creating three residential units at a cost of under $140 per square foot. By retaining ownership, the Troy Community Land Bank will ensure the property is properly maintained while continuing to provide stable, affordable housing for Troy residents.

Funding for the project was provided through the New York State Land Bank Initiative, administered by New York State Homes and Community Renewal.
New York State has provided more than $160 million to 31 Land Banks statewide to revitalize derelict properties and expand affordable housing opportunities. Land Bank Initiative funding has led to nearly 300 homes being created or preserved and the demolition of almost 200 blighted structures.

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Thanks to Governor Hochul, New York is investing in Land Banks across New York that are revitalizing derelict properties while providing safe, stable affordable housing. With this $350,000 investment from the Land Bank Initiative, this 19th century rowhouse on River Street can shine once again and provide homes to three families. HCR looks forward to continuing to work with the Troy Community Land Bank to revitalize neighborhoods one structure at a time and provide places for city residents to call home.”

“This project reflects exactly what the Troy Community Land Bank was created to do,” said Brad Lewis, Executive Director of the Troy Community Land Bank. “We are taking underutilized buildings, investing responsibly, and creating high quality housing that will remain affordable and well managed for the long term. Delivering three units of housing at under $140 per square foot demonstrates that affordable housing can be done efficiently while still producing durable, attractive homes that strengthen the neighborhood.”

An open house was held on February 26, 2026, welcoming elected officials, community partners, and members of the public to tour the completed units and learn more about the Land Bank’s ongoing work.

The rehabilitation included full interior and systems upgrades, ensuring the building meets modern safety and performance standards while preserving the structure as a long term community asset.

This project is part of the Troy Community Land Bank’s broader effort to return vacant and underutilized properties to productive use. In 2026, the organization is advancing 33 housing projects across the City of Troy, including major rehabilitations, new construction, and owner occupied housing support.
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Troy Community Land Bank is a nonprofit organization dedicated to revitalizing vacant and abandoned properties throughout the City of Troy, New York. Through strategic acquisition, renovation, and redevelopment, TCLB works to improve neighborhoods, create housing, and enhance the quality of life for Troy residents.

For more information about the Troy Community Land Bank or available properties, visit www.troycommunitylandbank.org.