Simply stated, it is good economic sense for the citizenry, businesses and government of Troy to revitalize all neighborhoods bordering the Hudson River shoreline. Considering the Hudson River and the unique opportunities she has always provided to the citizenry of Troy, she remains our best and most vital resource for economic growth. It is with this in mind that South Troy and Uptown (formerly referred to as North Central) were targeted with the federal funds and rightfully so.
There are many factors that perpetuated the decline of our riverfront neighborhoods. Both South Troy and Uptown were home to the greatest of Troy's industries. The majority of manufacturing jobs within these neighborhoods provided an economic stability. The closing of factories and the loss of those jobs were devastating. The failed Urban Renewal of the 70's cleared away the majority of our retail businesses, thus destroying our downtown economy leading to further economic losses. Then expansion of Troy Housing Authority with additional housing complexes situated in the heart of these thriving neighborhoods signaled to many that it was time to sell their homes and to seek out new opportunities. The grand exodus from these neighborhoods, with many long-time owners selling and moving elsewhere, left a void in these neighborhoods that "investors" were all too eager to fill and, unfortunately, the City of Troy was all too eager to allow them to.
Given the neglectful and apathetic stewardship shown by a majority of these investors in these areas over the past 20+ years, property values have steadily declined on the properties of the good and upright owner occupants throughout our riverfront neighborhoods. Many neighborhood associations are standing up and working actively for improvements in services, livability, and decency. Osgood, Stowe Farm, North Central, South Lansingburgh are each active in our riverfront areas. There's alot of work to be done and alot of people willing to do it.
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