The City of Troy announced today that it has picked a mixed-use proposal for the redevelopment of the former city hall site. From the press release about the "Troy City Center":
The $31.5 million project emphasizes two of the most important aspects of redevelopment: enhancing physical and visual access to the City's waterfront, and promoting the aesthetics and walkable nature of Troy's historic downtown. The design proposes to have a piazza acting as a pedestrian extension of Broadway and terraced grand entrance to Riverfront Park, which is undergoing its own multimillion dollar transformation. This piazza will be framed by two buildings that complement the historic Rice and Cannon buildings in height, construction, and sidewalk frontage, while adding new, high-end retail and residential space.
A "piazza"? Fancy.
The design still has to be approved by the city council before the project can move forward. That discussion could be... interesting. The city council and mayor Harry Tuntunjian have a relationship that doesn't lack for drama.
A few more details, the full release, and large versions of the renderings are after the jump.
Scroll up for large-format renderings.
Project details from the release
Cost of project: $31.5 million
Proposed purchase price: $1 million
Number of jobs created: 290
Number of parking spots created: 148
Number of apartments created: 106
Square footage of restaurant space: 5,000
Square footage of retail space: 10,040
Square footage of public space: 27,000
Size of Monument Square site: 2.1 Acres
All numbers based on design concept submission; numbers subject to change.
The group behind this proposal -- Troy City Center LLC -- includes the Nigro Companies, which owns a bunch of retail projects, and The Richman Group Development Corporation, a firm headquartered in Connecticut that says it's one of the nation's largest residential property owners. Troy City Center LLC was one of three three groups to submit a proposal. The others: Columbia Development and the Judge Development.
The full press release
Renderings from the architecture firm
Renderings and other architectural details from FXFOWLE, the firm that designed the project.
What the site looked like in April
The demolition of the former city hall had been held up because of a problem with bonding the project. That issue was recently resolved and the demolition got the OK to go ahead. [Troy Record]
Proposed Troy City Center
Troy, NY 12180
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