Thursday April 25, 2024 
Troy to hold a community meeting about fifth attempt at developing riverfront space
Byline: KENNETH C. CROWE II
Troy
The city doesn’t have firm plans about when it will solicit proposals to make a fifth run at redeveloping 1 Monument Square.
Mayor Patrick Madden is holding a community meeting Monday, Nov. 5, to present “a refined concept” for the 1.18-acre site based on public comment at meetings in June.
The “refined concept” will be presented at the 7 p.m. meeting at the Arts Center of the Capital Region at 265 River St., just doors away from 1 Monument Square. The illustrations for the site are not yet finished, John Salka, a mayoral spokesman, said. They will include open space, two levels of parking, views of the Hudson River and pedestrian links to the adjacent Riverfront Park, the city said.
For now, the city is using 1 Monument Square as a staging area for construction equipment and materials for the $24.2 million reconstruction of the decaying seawall along the Hudson River.
The previous four projects dating back to 2011 didn’t garner support because the city did not seek public comment from the beginning, said City Council President Carmella Mantello, a Republican. “I’m pleased they have involved the public.”
But, Mantello said, after holding the hearings in June, nothing has happened.
“I don’t know why it’s taking so long. I would like to see a timeline,” Mantello said about moving the project ahead to seek requests for proposals to develop the site.
The Madden administration previously said the city would request proposals in September, but did not do so.
The last proposal fell apart a year ago when Bow Tie Cinemas dropped its plans for a $22.7 million project to build a multiplex of 11 movie theaters. The company claimed the city didn’t provide accurate information about the site and sued to recover $186,065 it invested and a $60,000 payment it made to the city in the first phase of acquiring the property.
Mantello said she has received proposed legislation from the Democratic mayor’s administration that would have the city pay $71,000 to settle the lawsuit. The legislation goes to the City Council’s Finance Committee for review on Nov. 1.
Councilman Mark McGrath, a Republican, said the city’s handling of Bow Tie, which involved Bonacio Construction of Saratoga Springs, is not a good omen for what’s to come in developing the site.
“They’re going to be hard-pressed to find a reputable developer to come in. They’re not going to come in here and get their brains beat in,” McGrath said.
kcrowe@timesunion.com – 518-454-5084 – @KennethCrowe
The city doesn’t have firm plans about when it will solicit proposals to make a fifth run at redeveloping 1 Monument Square.
Mayor Patrick Madden is holding a community meeting Monday, Nov. 5, to present “a refined concept” for the 1.18-acre site based on public comment at meetings in June.
The “refined concept” will be presented at the 7 p.m. meeting at the Arts Center of the Capital Region at 265 River St., just doors away from 1 Monument Square. The illustrations for the site are not yet finished, John Salka, a mayoral spokesman, said. They will include open space, two levels of parking, views of the Hudson River and pedestrian links to the adjacent Riverfront Park, the city said.
For now, the city is using 1 Monument Square as a staging area for construction equipment and materials for the $24.2 million reconstruction of the decaying seawall along the Hudson River.
The previous four projects dating back to 2011 didn’t garner support because the city did not seek public comment from the beginning, said City Council President Carmella Mantello, a Republican. “I’m pleased they have involved the public.”
But, Mantello said, after holding the hearings in June, nothing has happened.
“I don’t know why it’s taking so long. I would like to see a timeline,” Mantello said about moving the project ahead to seek requests for proposals to develop the site.
The Madden administration previously said the city would request proposals in September, but did not do so.
The last proposal fell apart a year ago when Bow Tie Cinemas dropped its plans for a $22.7 million project to build a multiplex of 11 movie theaters. The company claimed the city didn’t provide accurate information about the site and sued to recover $186,065 it invested and a $60,000 payment it made to the city in the first phase of acquiring the property.
Mantello said she has received proposed legislation from the Democratic mayor’s administration that would have the city pay $71,000 to settle the lawsuit. The legislation goes to the City Council’s Finance Committee for review on Nov. 1.
Councilman Mark McGrath, a Republican, said the city’s handling of Bow Tie, which involved Bonacio Construction of Saratoga Springs, is not a good omen for what’s to come in developing the site.
“They’re going to be hard-pressed to find a reputable developer to come in. They’re not going to come in here and get their brains beat in,” McGrath said.
kcrowe@timesunion.com – 518-454-5084 – @KennethCrowe