TROUBLED APARTMENT COMPLEX TO GET FACE LIFT.(BUSINESS)

Byline: JAMES DENN Business writer

ALBANY -- A group of developers are renovating a trouble-plagued apartment building -- a move that could help one of downtown's prime neighborhoods.

State Street Tower Associates of Hoosick Falls borrowed $2.1 million from a New York City investment group to rebuild 397 State St. and 94 Spring St. The buildings, located near Washington Park, contain 109 apartments. But the properties, including the 13-story Spring Street building, have been vacant for two years.

State Street Tower's Stanley Rosenberg has high hopes for the redevelopment. Instead of offering 109 studio apartments, the buildings will be restructured …