Site Work on the 132 Room, 5 Story Hotel Marks Second Phase of the “Waterfront District” Redevelopment Project
TROY, N.Y. (9/6/17) — Site work has begun on a 132-room Courtyard by Marriott hotel in downtown Troy, commencing the next phase of First Columbia’s waterfront re-development. The five-story concrete masonry structure will be prominently located between the city’s largest office complex and the Hoosick Street Bridge along 500 feet of the Hudson River.
The continued growth in Troy’s tech and corporate office sectors combined with the hotel demand of the city’s colleges has fueled the need for additional rooms in Troy. “Our research has shown that room
night demand is provided by out of city and county properties, robbing Troy of revenue and guests that its businesses generate. We seek to re-balance that trend and show that the walkable waterfront
redevelopment in Troy will be a great host for all visitors and capture the energy of the city’s redevelopment,” said Kevin Bette, president of First Columbia.
The colleges are very important drivers of the city’s economy and we need to meet their demands for a vibrant downtown so they will continue to thrive, Bette noted.
“We are delighted to have a Courtyard hotel and more development in the neighborhood,” said Wayne Boomer, vice president of finance and operations at Apprenda. “It will be great for our business to host large meetings and give our visitors a great place to stay in Troy.”
A leading software engineering company, Apprenda is headquartered in First Columbia’s Hedley Park Place. The hotel is expected to open next summer at 515 River Street, just off Route 7 near the Collar City Bridge. Its proximity to the highways and high traffic counts will provide an easy stay for travelers, Bette said. The annual average daily traffic (ADT) for Alternate Route 7 is 52,839 while adjacent I-787 has an ADT of 62,908.
Bette & Cring Construction is building the hotel, which will be managed by DelMonte Hotel Group (“DHG”).
“The DelMonte Hotel Group is thrilled to be a part of the transformation of the Troy waterfront,” said DHG President Alexander DelMonte. “We see Troy poised for continued growth and the Courtyard by Marriott is the perfect brand to meet the needs of our guests.”
The hotel will have meeting space and board rooms to match the demand for professional spaces in Troy, which is currently undergoing what many are calling an “urban renaissance.”
WATERFRONT DISTRICT” PLANS MOVING FORWARD WITH PHASE II
Work on the hotel kicks off the second phase of the Waterfront Redevelopment, a massive revitalization project that will open up the possibility for more restaurants, retail outlets and apartments in this riverfront neighborhood between the Green Island and Collar City bridges.
Upon acquiring the Hedley Park Place building from Troy development icon John Hedley in 2006, First Columbia commissioned a Hedley Waterfront Redevelopment Plan to redevelop roughly 25 city blocks surrounding its Hedley Park Place and Flanigan Square properties to fulfill Mr. Hedley’s vision for Troy. That vision has evolved into a $125 million dollar “Waterfront District”; that when completed will include prime office space, retail, residential units, parking, hotel, and a riverside promenade stretching over several miles of Hudson River frontage.
ABOUT FIRST COLUMBIA
First Columbia is a diversified real estate/investment organization committed to planning, developing, and operating high quality facilities. Its projects include mixed-use developments, office campuses,
medical complexes, multi-family housing, hospitality, and high-tech facilities. Contact: Victoria Harris, marketing director First Columbia, at (518) 213-1009 or firstname.lastname@example.org
ABOUT DELMONTE HOTEL GROUP
DelMonte Hotel Group is an award-winning ownership, management and development company headquartered in Rochester, New York. The DelMonte Hotel Group was the first Marriott franchisee and has grown from a single full-service hotel in 1973 to a portfolio of full-service, select service, and extended-stay products within the Marriott and Hilton brands. DelMonte Hotel Group has built and managed properties flagged by Marriott, Renaissance, Courtyard by Marriott, Fairfield Inn and Suites, Residence Inn, and Hilton Garden Inn. John Del Monte serves as CEO, and Alexander DelMonte is President of the DelMonte Hotel Group. For more information, visit http://delmontehotels.com.