Redburn Development seeks variance for Congress Street apartment conversion project

In a recent meeting of the Troy Zoning Board of Appeals, a significant proposal emerged that could reshape a historic building into modern living spaces. The focus was on the conversion of the former Bridal Stage dormitory at 39 to 45 Congress Street into 71 market-rate apartments. The development team, led by Joseph Peranchero of Redburn Development, presented their case for an area variance to reduce the required average apartment size from 700 square feet to 518 square feet.

As the meeting unfolded, Peranchero explained that the project aims to utilize the existing structure, which has been well-maintained since its construction in 1965. The dormitory's layout, with thick concrete walls, poses challenges for modification, making the requested variance essential for the project's financial viability. The team emphasized that they are not merely converting dorm rooms into apartments but rather combining two dormitory units to create one-bedroom apartments, which they believe will meet the needs of modern renters.

The proposal has garnered conditional approval from the planning board, contingent upon the variance. The developers assured the board that the project would not negatively impact traffic or parking in the area, citing a comprehensive traffic management plan that has already been reviewed and approved.

Board members raised questions about the implications of transitioning from student housing to private apartments, particularly regarding parking and congestion. The developers responded that the project would not include dedicated parking but would rely on existing street parking and nearby public transportation options.

With an average rent projected at around $1,100 per month, the developers aim to provide affordable housing options for everyday residents, steering clear of luxury pricing. The meeting highlighted the delicate balance between preserving the historic character of the building and adapting it to meet current housing demands.

As the board deliberates on the variance request, the outcome could pave the way for a new chapter in the life of this historic structure, transforming it into a vibrant part of Troy's residential landscape. The decision will not only impact the future of the building but also reflect the city's commitment to addressing housing needs in a rapidly changing urban environment.