TROY – The Troy Community Land Bank plans to rehabilitate properties along the River Street corridor and collaborate with Capital District Transportation Authority’s bus rapid transit program to make improvements in the North Central neighborhood.

The Land Bank unveiled the programs as part of its preview of its 2018 program as it embarks on a new strategy to redevelop the city’s poorest neighborhood.

“We’re trying to make an impact and positive changes in the North Central neighborhood,” Heather King, who chairs the land bank’s board, said Tuesday.

The five targeted properties are 785, 791, 822, 836 and 899 River St.

“TCLB will partner with local lenders to complete full rehabilitations of these properties. We will also work with TRIP to identify potential homeowners and/or “live-in landlords”, as well as take advantage of the SONYMA Neighborhood Revitalization Program,” according to the land bank’s presentation.

The Land Bank said owner occupancy is its preference for the properties. Under its Rent-to-Own Program it "will retain ownership and collect rents; however, a portion of these rents will be placed into an equity savings account for an approved future buyer.”

By collaborating with CDTA’s plan for its bus rapid transit route along River Street, the Land Bank had identified four properties – 881 River St., 879 River St., 871 River St. and 102 W. Glen Ave. – that would be targeted for redevelopment.

“Expanding upon a current CDTA bus stop, the concept for these four parcels is to build a mixed-use development with neighborhood commercial and/or social services on the ground floor, and residential units above. CDTA plans to incorporate this stop into its “bus rapid transit” route, a loop with expedited public transportation service throughout the Capital (Region),” the Land Bank's annual report presentation states.

Looking back at 2017, the land bank reviewed its actions in North Central.

In 2017, the land bank acquired the vacant lots at 140 President St. and 3154 Sixth Ave., along with the building at 3235 Seventh Ave. During the same year, the organization sold buildings at 67 and 71 Fifth Ave. as well as lots at 47 Glen Ave., 326 First St. and 2518 Fifth Ave. It razed buildings at 140 President St., 3154 Sixth Ave. and 3032 Seventh Ave.