City advances One Monument Square transfer to Luizzi team

The Troy City Council is considering Resolution 76 to surplus the One Monument Square parcels and preliminarily approve their future transfer to the Troy Local Development Corporation, which would then convey the property to a developer team including Luizzi Companies for a mixed-use and waterfront improvement project. A non-binding letter of intent and a detailed land development agreement with an exclusive option structure will be negotiated, subject to a future 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

Resolution 76 contemplates preferred developer status and exclusive development rights for up to two years under a forthcoming LDA. Additional council actions and agreements (such as street discontinuance and maintenance agreements) may follow later phases of site plan approval.

Document type

AgendaPacket

Source document

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

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pending

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Troy?

Luizzi Companies 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.

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