Oakwood began as a Presbyterian Church and was the first multiracial church in Troy. With great sadness, the church shut its doors in November 2010. Oakwood Presbyterian could easily have been boarded up, another sign of the decline of North Central Troy. Instead, when the church shut its doors, Oakwood volunteers ensured that the building would continue to provide a home to three different small congregations and a variety of neighborhood organizations, including the Troy Larger Parish Food Pantry, the James Connolly Forum, Alcoholics Anonymous, Transition Troy, and the Just-Us Prison Support Group. Oakwood also has remained an affordable and welcoming space for community members to celebrate birthdays and other milestones.

Thanks to the creativity and hard work of the Oakwood team, the building is now on the NYS Historic Registry and Oakwood Community Center is an incorporated not-for-profit organization with an active board of directors and an Executive Director. The building is owned by the Albany Presbytery, with whom the OCC has had a covenant relationship since 2013. In effect, OCC is the caretaker of this historic building. The Albany Presbytery entrusts the OCC to care for and improve the building, while offering programs and services within it. The covenant agreement will be renegotiated in April 2017, with the possibility that the OCC will take full ownership of the building.