TROY – Four firms are competing to be selected as the developer of 1 Monument Square as the city attempts for the fifth time to get a project built on the vacant 1.2-acre site that some call the most important location downtown.

The city’s previous four attempts fell apart usually when residents and businesses complained about the appearance and plans for transforming the former City Hall site on the Hudson River by building movie theaters, subsidized housing and a mixed-use of housing, retail and commercial space.

The companies filing their qualifications with the city to develop the site are RAL Development Services LLC of New York, Hoboken Brownstone Co. of Hoboken, N.J., First Columbia-The Davis Companies of Troy and Boston, and The BDC Group of Latham and White Plains. All have urban development experience.

“Sustained interest from development partners within and outside the Capital Region demonstrates continued confidence in Troy’s economic rebirth while underscoring the unique opportunity this river front location offers,” Mayor Patrick Madden said in a statement late Friday.

Madden’s administration has attempted to avert the specter of public opposition from rising again by seeking public comment on what should be built and how it should appear.

“Our community-based approach has allowed for public input and built a strong consensus on a vision for this site,” Madden said.

The site between River Street and the Hudson River has been vacant since 2011 when former Mayor Harry Tutunjian ordered City Hall razed to clear the way for investment in a new project. While plans were to return the spot to the tax rolls and aid in the city’s downtown revitalization that has not occurred.

Instead, the 1 Monument Square site has been an empty gash in the city’s Victorian streetscape. Construction equipment and materials for the city’s river wall reconstruction project are currently stored there.

In working with the public through a series of hearings last year, the city devised four design elements. Residents complained the previous projects appeared to be suburban in design and were out of place downtown.

The selected developer must include a two-story parking structure that can be entered from Front Street, which cuts through the property. There must be a public plaza accessible from River Street. From the plaza there must be a grand staircase descending River Street to Riverfront Park. The final element is a blending of use and structures, of up to three buildings containing 130,000 square feet of space and not to exceed eight-stories above the plaza level.

The developer will have to work with the city on melding the project with the architectural design and how it fits into the surrounding Victorian-era design elements.

The four potential developers have various experiences in working in urban design and on waterfronts. The city released the names of the four firms but did not disclose the details of their proposals for 1 Monument Square. These will be reviewed by a committee the Madden administration is still forming.

RAL describes itself as a “premier real estate developer of luxury apartment, condominium and resort communities nationwide.” Hoboken Brownstone says it is known for “the artistic restoration of urban neighborhoods in Hoboken and Jersey City, New Jersey.”

First Columbia is known for the Hedley Building in Troy and other projects in the area. Its partner, The Davis Companies, has done extensive work in Boston.

The BDC Group currently is building the 55-unit luxury King’s Landing on King Street opposite the Green Island Bridge.

The City Council will take part in the review of the project when it comes time to sell the city-owned 1 Monument Square site to the selected developer.

“I’m disappointed that a member of the council is not a member of the review committee,” said Council President Carmella Mantello, who supports including a new City Hall in the development.

“This is very important for the city as a whole not just downtown. It’s been a hole and vacant for too many years,” Mantello said.

The city’s previously announced goal is to have a contract signed by June 28 with the selected developer.

Steven Strichman, the city's commissioner of planning and community development, said the review committee will meet within the next two weeks to begin work on picking a preferred developer. He said the emphasis will be on being thorough and making a carefully considered decision that will lead to 1 Monument Square being developed this time.

Strichman said the selection committee will be structured to ensure have the “most relevant perspectives are included” in undertaking the review.

“Given the history of the site and the fresh start that led to this point,” Strichman said, “it’s important that we utilize the industry expertise and guidance of this committee to incorporate community input and bring this project across the finish line.”