COHOES, N.Y. -- On November 30, Cohoes witnessed one of its biggest fires. It destroyed or damaged more than 30 buildings on Remsen Street.

"Although we had a lot of damage, it could have been worse," said Cohoes Mayor Shawn Morse.

While Remsen Street continues to recover, Morse says economic development is still happening across the city. Morse highlighted 12 new businesses that opened in 2017 and other projects during his state of the city address Thursday night.

"I've said it a thousand times and I'll say it a thousand more: Economic development is the key to our success," said Morse.

He didn't mention domestic abuse allegations against him Thursday night, but he has previously denied any wrongdoing. The matter is being investigated by the state police and the Albany County District Attorney's office.

Morse says several multi-million-dollar projects will begin this year. That includes Remsen Place and the Mosaic Village, an apartment complex aimed to assist people with autism and development disabilities.

On top of that, the mayor says people will see improvements to sidewalks on Remsen Street as part of a 'streetscape' project. In addition, upgrades are also coming to Canal Square Park, hoping to draw more visitors to the city.

"We are on the upswing and it is only getting better, and we have more projects on the horizon, and I'm sure you'll hear about them in the coming months," Morse said.

The city will also see improvements to Cohoes Boulevard. Morse said the $15 million project will make that stretch of Interstate 787 safer for motorists and pedestrians.