New York Construction Report staff writer
A $22-million mixed-income apartment project underway in Troy is being highlighted by New York Governor Kathy Hochul as a flagship example of her proposed “Let Them Build” agenda aimed at speeding up housing and infrastructure development across the state.
Sol Apartments project, located at 1818 5th Avenue, will deliver a four-storey, 55,000-square-foot building with 71 apartments, including units affordable to households earning 65 per cent of Area Median Income. The development will also include a co-working space, lounge, community kitchen and indoor bicycle storage.
The project is being positioned by the state as a model of low-emission construction, and will become the first all-electric, zero-emission multifamily building in Troy. It is designed with geothermal heat pumps for heating and hot water, a high-performance building envelope, triple-pane windows, energy recovery ventilation and a rooftop solar array.
Funding for the project includes $1 million from the New York State Energy Research and Development Authority through its Buildings of Excellence program, and $2.6 million from Empire State Development through RESTORE NY Round 7.
Hochul said projects like Sol Apartments demonstrate the need to streamline state approvals, arguing that housing development is being slowed by environmental review requirements that add time and cost.
“New Yorkers know all too well that the cost of rent is too high, and the only way to solve the housing crisis and bring down costs is simple: build more housing,” Hochul said in a statement. “When communities say yes to housing projects that won’t have an environmental impact, we should fast-track these projects and let them build.”
Under the proposal, the state would amend the State Environmental Quality Review Act (SEQRA) to exempt certain categories of housing and infrastructure projects deemed to have no significant environmental impact. Those would still be subject to local zoning, permitting rules, and core environmental protections related to air, water and natural resources.
The proposal also seeks to expand expedited approvals for select infrastructure projects, including clean water systems, green stormwater infrastructure, parks and trails, and child-care facilities, provided they are located on previously disturbed sites.
State officials say housing and infrastructure projects in New York can take significantly longer to move from planning to construction than in other jurisdictions, with added regulatory requirements increasing costs per unit and delaying delivery of new housing supply.
Supporters of the reforms argue faster approvals would help address New York’s housing shortage, while critics of the current system say overlapping review processes have created uncertainty for developers and municipalities.
Sol Apartments is expected to serve as a demonstration project for the state’s broader push to accelerate development while maintaining environmental safeguards.
