The five-story former textile building at 621-623 River St. will be renamed Hudson Arthaus as part of a $19.4 million renovation that will include gallery space, art studios, computer programming labs, libraries and cultural displays.

The apartments are expected to be ready for occupancy in fall 2015.

The development team consists of The Vecino Group LLC and Buxton Kubik Dodd Creative, both of Springfield, Missouri; and 3TArchitects and UW Marx Construction, both of Troy.