Velan Studios tapped for One Monument Square project

Through Resolution 76, Troy officials are initiating a process that could result in transfer of the One Monument Square site to the Troy Local Development Corporation and then to a developer team including Velan Studios for a mixed-use housing, commercial, and public waterfront improvement project. The arrangement will be detailed in a future land development agreement granting up to two years of exclusive development rights, pending public hearing and council approval.

Scope & details

The full contract record, as filed.

Contract type

FACILITIES

Contract term

Preferred developer & exclusive development rights for up to two (2) years; subsequent option period for land transfer not yet specified

Renewal

Preferred developer and exclusive development rights for up to two years are anticipated under the future LDA; subsequent phases, extensions, or amendments would require additional council and TLDC actions.

Document type

AgendaPacket

Source document

City of Troy Finance Meeting Agenda Packet 2026-07-23

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City of Troy Agenda Packet 2026-07-23

PENDING

City of Troy, New YorkJul 23, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Troy?

Velan Studios was awarded this facilities contract by City of Troy, as recorded on July 23, 2026.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Troy Finance Meeting Agenda Packet 2026-07-23 (AgendaPacket), dated July 23, 2026 from City of Troy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Velan Studios hold?

Velan Studios may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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