Troy

A 19th-century building that was home to a pioneering ready-mix paint company will receive a $2 million transformation by local developers to become a 21st-century brew pub with apartments and offices.

The city Planning Commission will examine the project Wednesday that would create an entertainment destination area at River and North streets in the North Central neighborhood.

The three-story brick industrial building at 669 River St. doesn't yet have a company for the brew pub space, but that's being worked on, said Jon Haynes of Phinney Design, which is handling the project.

"It's still in the conceptual phase. We're excited about the project," Haynes said.

The building is owned by 669 River St. LLC of Cohoes, according to city property tax rolls. The property was purchased from the city for $30,000. The principals are Mike Phinney and Haynes, who are partners in The Local Pub and Teahouse in Saratoga Springs, and Dr. Brian McCandless, according to Times Union reports.

The proposal submitted to the city outlines the $2 million investment, which would have the brew pub located in the basement and first floor and 13 apartments with offices on the upper two floors.

The brew pub would be located next to the Hangar on the Hudson at 675 River St. and across the street from The Ale House at 680 River St.

The building at 669 River St. was listed in August 2016 on the National Register of Historic Places. It was the site of the former William Connors Paint Manufacturing Co.

The NRHP lists the building as being significant to architecture, engineering and industry. The citation for the building notes that while Troy was know for its iron and collar industries, "Troy was also once home to other industries, among them the highly successful Connors paint business. Taking advantage of the development of ready-mixed paints in the 1870s, Connors rose to national pre-eminence and continued to produce paint well into the 20th century."

Haynes said the historic designation would not deter the building's redevelopment. He said the brick and wooden beams would add to the atmosphere of the planned brew pub.

After receiving city approval, Haynes said work could start in the fall with the project being finished in late 2018 to early 2019.

The brew pub is the latest investment in the North Central neighborhood's River Street corridor, where former schools and factories are being converted into apartments.

"North Central has a lot of investment in the last couple of years," said John Salka, a spokesman for Mayor Patrick Madden. "It's good we have people that are still continuing to invest."

kcrowe@timesunion.com • 518-454-5084 • @KennethCrowe