After receiving only three proposals to redevelop the former City Hall site, the city of Troy, New York, will keep the bidding open to draw more companies to the project, the Albany Times Union reported.
The city has $3.9 million available to redevelop the 2.1-acre property. Situated at the city’s Monument Square on the Hudson River, city officials envision a mixed-use development of housing, retail and commercial space.
One roadblock to the plans is an ongoing issue regarding asbestos removal during demolition of the site. The state Department of Labor has issued three violation notices to the city for failing to complete asbestos removal before proceeding with demolition of the building, the newspaper reported.
Asbestos fibers that become airborne are a health danger to anyone in the vicinity, and are linked to diseases such as malignant mesothelioma. The hazardous mineral has been the focus of many asbestos settlements and mesothelioma lawsuits in recent years.
One of the three bidders, Judge Development, indicated its readiness to develop a $30 million to $40 million project on the property. "We don’t want to see any delay," developer Sam Judge told the Times Union, "The city has gone through the motions and has managed to get three legitimate and respected developers to respond."