Troy

The Old Brick Furniture building at the southern tip of River Street is to be converted into 80 apartment units by an Albany developer, according to plans filed with the city.

Fairbank Properties has proposed the conversion of the towering 110,000-square foot building at 2 River St. The warehouse and commercial structure is one of the few remaining 19th-century factory buildings along River Street in the city that has not been transformed into an apartment building.

"We hope the project can be a catalyst for projects of this kind in this part of downtown," said David Sarraf of Fairbank Properties.

Located at the corner of River and Adams streets, the brick behemoth stands four to five stories tall. It was once home to Tiny Town Togs, which made children's clothing, City Historian Kathy Sheehan said.

Plans call for the structure to be converted into five studio apartments, 60 one-bedroom apartments, 14 two-bedroom apartments and one three-bedroom apartment. A parking lot of about 117 spaces would be built, according to the plans.

Project costs have not yet been determined, according to the application filed with the city.

The Old Brick Furniture operation would not continue at the site because the plan calls for the retail and commercial uses to be eliminated.

A 2013 proposal to add 68 apartments above the retail operation faltered and did not proceed. That project was estimated to cost $8 million.

Fairbank Properties is seeking a special use and variance from the city Zoning Board of Appeals to undertake the rehabilitation project. The ZBA will consider the proposal when it meets at 6 p.m. Tuesday at City Hall, 433 River St.

Fairbank Properties has developed the 100-unit building at 760 Broadway in Albany and the Arcade Building in Albany with 60 units and retail on the first floor. The company has offices in Albany and New York City.

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