TROY, N.Y. (NEWS10) -Its been more than ten years since the old city hall was torn down. A fence is still keeping people out of the spot.

Assemblyman John McDonald says the city has been working on finding just the right plan. “This has been a critical site in the heart of downtown Troy that has gone through different variations. I think four or five.”

As of January 2022, the city started preliminary site work for their project partner, Hoboken Brownstone. This included the relocation of an existing water service line and the installation of improved sewer lines. The project needed financial help from the state to continue and that came in the 2023 budget. “We were fortunate in the budget with the support of Governor Hochul to direct $19 million into the project,” said McDonald.

But before construction begins on the projected $64 million project, all the money needed is not yet in order. “The developer is working with various entities to fill that gap. I’m optimistic that it is going to happen sooner than later,” explained McDonald.

The proposed building would feature stores and apartments, plus parking. McDonald says the project is meant for people of all income to enjoy. “As Troy has seen a renaissance in response to market rate housing it also adds an affordable housing twist as well.”

With all the excitement said to come to the Collar City, it will still be some time before anyone gets to take a trip inside. The COO of Hoboken Brownstone, Sumeet Gupta, telling NEWS10:

“We continue to make progress internally on our end and are awaiting further details from the State regarding grants the project has been awarded and plan on having updates in the coming months.”