TROY — Troy officials are proposing redevelopment of the riverfront property on Second Avenue in Lansingburgh after Price Chopper on Monday announced it would permanently close its store there at 6 p.m. Saturday, Feb. 29.

The 72 employees, 20 full-time and 52 part-time, have been offered comparable positions at the nearby Market 32 stores in Brunswick and at Hudson Valley Plaza in Troy, at the Market Bistro in Latham, or at the new Watervliet Price Chopper store.

All are brands of the Golub Corp.

"It's never easy to close a store — and we rarely do — but we have an obligation to make business decisions that support the company's continued health and growth," said Mona Golub, the chain's vice president of public relations and consumer services.

"After thoroughly reviewing the store's current and future viability, as well as the operational challenges related to the floodplain, we concluded that closure is the appropriate action to take," she said. The store is immediately next to the Hudson River, and has experienced some flooding over the years.

The supermarket, which opened in November 1976, backs up along the river shoreline.

“Closure of the Lansingburgh Price Chopper presents a unique opportunity to improve the Lansingburgh commercial district and increase public access to Troy’s waterfront," said Steven Strichman, commissioner of planning and development for the city of Troy. "Potential conversion of this suburban style shopping plaza into a walkable, urban mixed-use district—enhanced by CDTA’s Bus Rapid Transit line and other improvements—will bring further investment to the Lansingburgh neighborhood.

“We are pleased to know affected employees will be transitioned to other store locations, and look forward to working with the Golub Corporation and their affiliates on the future development of this prominent waterfront location,” Strichman added.

Troy City Council President Carmella Mantello said she asked economic development officials to meet with Golub Corp. "to discuss possible options with them such as an upgraded Market 32 or other economic development options.

"Should the Golub Corporation refuse to look at alternatives, the property is a prime piece of waterfront property," Mantello said. "While there are several new housing units along our waterfront across the river, this could be a great opportunity for something other than housing units, such as a possible restaurant and commercial development with waterfront land and water trail and public access amenities such as docking."

Golub Corp., whose Central Markets brand dates from the early 1940s, switched its Central Markets to Price Chopper in 1973. It opened its first Market 32 store in 2015. It currently operates 133 Price Chopper and Market 32 stores in New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. Of the 133, 25 are Market 32s.