Troy issues request for development proposals - NEWS10 ABC: Albany, New York News, Weather, Sports

Troy issues request for development proposals

TROY, N.Y. - Mayor Lou Rosamilia announced Thursday that the City of Troy has issued a Request for Proposals for the purchase and development of the former City Hall site at One Monument Square.

The City's RFP provides the opportunity for comprehensive outreach to interested developers, establishes detailed submission criteria, and sets a 90-day window for developers to submit proposals for the 2.1-acre parcel.

The deadline to submit proposals is Wednesday, March 13.

This is the second time the City has sought development proposals for the site. An RFP was issued in December 2010, shortly before the demolition of City Hall on New Year's Eve 2010. Three proposals were submitted and the City accepted a plan for a mixed residential and retail development whose residential component included 60 percent subsidized housing.

Upon taking office in January 2012, Mayor Rosamilia and his administration presented their position that it was in the best interest of the future of Downtown Troy if the housing portion was 100 percent market-rate.