Troy building downtown housing to meet millennial demand

Local News
3-1 Water Street townhouses

TROY, Ohio (WDTN)  – The City of Troy is working hard to attract new residents to the downtown area.

In an effort to bring more millennials to the area, several downtown apartment projects are currently under construction to meet millennial demand for affordable housing.

One big attraction, the city hopes, is quick access to the city’s stores, coffee houses and restaurants.

A study Troy conducted several years ago on city redevelopment found the city has plenty of housing in subdivisions but lacked apartments for new college graduates, singles and couples.

The city’s plan falls into fashion with other developments in places like Dayton, where people prefer downtown living because of the quick access to entertainment, eating and shopping options.

Haren’s Market will move from its current location on Garfield Avenue to a downtown location once it finishes construction of a new building, giving the square its first grocer.  

“There’s this ebb and flow that goes from the suburbs, to the country, and now we’re back to people wanting to live downtown,” Troy Main Street Executive Director Nicole Foy said. “People want to live in close proximity to where they want to go.”

Current projects include apartments above The Caroline restaurant, which sits on the southeast corner of the downtown square, a townhouse with three separate apartments on Water Street, and plans to build apartments over several commercial spaces above existing businesses, such as the CAS building which currently houses Grandpa Joe’s Candy Shop in its first floor store front. 

LaPiazza, which closed last year, has apartments on its second floor, but the area was used as a pilates studio while the restaurant was in operation. 

Demand has been high – all three townhouses were leased in the Water Street building before construction was finished and The Caroline building has one apartment under lease while construction is still occuring. 

Foy said costs will be higher for townhouses, but expects overall costs to fall once it builds more apartments 

“Some will be on the higher end, but as more residential spaces become available, we want housing for people of all means,” Foy said. 

Moeller Brew Barn will open on Main Street in April or May. It will be the first brewery in Miami County. 

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