A massing diagram for the proposed project.

The proposed One Monument Square development in downtown Troy is one of the area's most interesting projects -- and it's evolving.

The latest version of the plan (itself the third major proposal for the site) sticks to the original concept -- a bunch of residential units, mixed-use space including a permanent spot for the Troy Waterfront Farmers' Market, a plaza with access to the riverfront -- but it shifts the arrangement of the two buildings planned for site.

The new massing diagaram for the project is above (and after the jump in large format) -- it was shared by the developers at a meeting of the Troy City Council's planning committee Tuesday evening. Where the original version of this plan had the two buildings roughly splitting the site down the middle, the new plan includes one wide building and one much narrower building.

Here's more about the current version of plan, and a few other bits...

More massing diagrams are above in large format -- click or scroll all the way up.

Plan details

+ Cost: about $25 million -- includes $3.8 million in state grants already alloted, that will require the city's help to claim.

+ Site purchased from the city for $650,000.

+ Two buildings -- one (wider building) 7-stories tall, the other (narrower building) 5-stories.

+ About 100,000 square feet of residential with 80some upscale, market-rate units (the final count depends on how the units are broken up into 1, 2, or 3 bedroom units)

+ A 17,500 square foot permanent space for the Troy Waterfront Farmer's Market

+ Space for a restaurant that looks out onto the river

+ River Street level retail space

+ 85-100 parking spaces accessible from Front Street (river level)

+ The city would continue own a strip 50-feet wide along the river.

+ If approvals come through by the end of this year, construction could start early 2015 and the project could be largely complete by summer 2016.

Rearranged

Why the new building configuration? Jeff Buell of Sequence Development, part of the development team that includes the Kirchoff Companies, said a survey of the site turned up significant public infrustructure -- specifically large sewer lines -- around the area of the steps on the north side of the site that currently run from River Street to the lower level. Moving that infrastructure would be cost prohibitive -- $1 million to $1.5 million, according to Buell -- so the plan had to adjust by shifting and reportioning the buildings.

The land price tag

When word got around this week that developers are proposing to pay $650k for the site, it raised some eyebrows because earlier rounds of proposals for the site had included a land price above $1 million. The question came up at the committee meeting. Mayor Lou Rosamilia said the city had the site assessed in 2012 and was told it was worth $784k. Buell said the development group had originally offered a bid of $500k. And Rosamilia said the $650k price was settled on after it was agreed the city would hold onto the 50-foot-wide strip of land along the river.

City hall?

The original pitch included the possiblity of moving Troy city hall back to the site, located in the south building. Buell said a review of that possbility concluded that a 45,000 square foot city hall space would crowd out other mixed-use space that could be more valuable there, and it would push the cost of the project too high.

Farmers' market

The inclusion of the farmers' market space is another interesting angle for this project -- even if some of the operational details are still not all lined up. During his presentation before the committee, Buell stressed the importance of the farmers' market's ability to draw crowds downtown as "a vital center of activity", and said the market's permanent space could provide opportunities for vendors throughout the week. It also sounds like the idea is to not totally containt the market all the time -- that vendors could still end up setting up along River Street during warmer months.

Also, Buell said the plan to sell the farmers' market space to the market at cost as a condo. (The market is currently in the process of trying to secure grant money for its part of the project.)

Parking

The original pitch for this project included about 175 parking spaces. Buell said that after further consideration it was determined that was probably more than needed, and considering the cost of building a structure for the parking, the number was reduced to 85-100. Buell cited the fact that the farmers' market currently does OK without its own dedicated parking and recent experience renting other residential units downtown as evidence that the parking would be enough.

The parking would be located on the riverfront level, with access from Front Street. But the developers say the design will aim to keep the parking structure from looking like parking.

Restaurant

Buell said there's been "strong" interest in the restaurant space, both because of its riverfront location and the fact that it would be just across the plaza from the farmers' market.

The look

The first pitch of this plan -- submitted as part of the city's request for proposals -- included renderings that prompted some negative reviews. Here at AOA, Duncan Crary wrote an opinion piece that was sharply critical of the design.

Tuesday evening Buell said the building design is still being developed, in part because the land hasn't been secured from the city. Once the project's a go, the detailed architectural work can begin. And Buell said the goal will be to create a design (largely brick) that fits in with the surrounding architecture. As he told the committee, "We want people to look at it and say, wow, that's been here forever."

Overall trend

This is now the third major attempt to redevelop the One Monument Square site, a process that began back in 2010 when Buell was still working for the city of Troy. And we thought he put an interesting frame on the years-long timeline.

As he said to us, at the beginning of the process there was great hope that the Monument Square project would be transformative because it would add roughly 100 residential units to downtown. And in the time since the neighborhood has gained about that many new units -- because of other residential projects. So the fact that Monument Square no longer necessarily has to be transformative -- that instead it can a (large) piece in the overall trend -- is a sign of how the trend in downtown Troy has changed in just a few years.

Earlier on AOA:

+ The new plan for redeveloping the Monument Square site in downtown Troy

+ Soapbox: Expecting better for the One Monument Square redevelopment