[2] It was listed on the National Register of Historic Places in 2002.

[1] The village is dominated by residential construction, which mainly consists of 1.5 and 2.5 story wood-frame houses built between about 1850 and the early decades of the 20th century.

The village grew where it is because of the ready access to water power, provided by several streams which merge to form the South Branch of the Ashuelot River.

These initially produced wood products, but in the second half of the 19th century, the greatest period of Troy's growth, textile processing became increasingly important.

Business benefited from the arrival of the railroad in the late 1840s, which also brought tourists to the area.