Leonard Hospital Site Redevelopment

This is redevelopment of cleared hospital land, rather than conversion of a surviving hospital. Contemporary 2020 reporting dates the later Leonard Hospital building’s opening to 1972 and describes closure in the 1990s; that is separate from the institution’s earlier history. The city took the property for unpaid taxes in 2012. A 2017 proposal to sell it to The Community Builders for $1 for 120 affordable apartments failed at the council. Troy’s 2021 State of the City address confirms demolition was completed the previous October, in 2020. The abandoned medical building and its removal explain the long gap before the current cottage proposal. The 2026 assessment roll lists Gulfstream Developers LLC as owner of parcel 70.74-1-1, 6.43 acres, citing deed 11094/126. September 2026 reporting describes a $275,000 city sale in 2024 and construction starting that month. The present proposal is 86 one-bedroom rentals for people 55 and older, a different housing program from the unbuilt 2017 affordable-apartment plan.

Applicant/developer and 2026 assessed owner; deed 11094/126 cited in roll, deed not independently retrieved

Gulfstream Developers LLC

Builder/development principal identified in project reporting and participant account

Anthony Casale

Broker/development principal identified in project reporting and participant account; equity percentages not established

Anthony Gucciardo

Former property owner and seller; undertook demolition

City of Troy

Developer of unbuilt 2017 proposal; not identified as current developer

The Community Builders

• Projection86 one-bedroom homes for residents aged at least 55 are contemplated; age restriction does not establish income-based affordability. — July 17 project description reproduced in August 28 IDA packet
• ProjectionDevelopers say small, low-maintenance rentals respond to demand from older adults wishing to downsize. — Anthony Casale and Anthony Gucciardo in September reporting and project website
• DocumentedThe July 17 IDA hearing report records no comments at that hearing; draft minutes record Elbert Watson’s dissent over the payment increase at PILOT expiry. Neither establishes the views of the whole community. — August 28 IDA packet

• Shares Troy IDA review with American Cinema (CBT-0001); shared agency does not establish common ownership or financing. No additional common-owner relationship was established in the 55 current projects, 23 businesses, four saved archive records and retrieved prior research checked.

• What payment schedule and end-of-term increase appear in the executed PILOT, and has the assistance transaction closed?
• What certified current agent authorization governs exemption use? The draft reproduced in August contains an already-past expiry date.
• What final occupancy and age-restriction provisions apply, and are there any enforceable income or rent limits? The reviewed age-restricted proposal does not itself establish affordable rents.

• Some older accounts date hospital demolition to 2019; Troy’s 2021 address explicitly places completion in October 2020, consistent with contemporary demolition reporting.
• The attached July 2026 draft authorization contains a December 31, 2024 agent expiry. This does not prove the final authorization expired; the certified current instrument was not obtained.
• A participant project page retains a spring 2026 target, while September 23, 2026 reporting says construction had just started with a November 2027 completion aim. Targets are not delivered dates.

1. 1972 — Opening of later hospital building according to contemporary 2020 reporting; not the institution founding date.No figures reported.
2. 1990s — Hospital closure reported; exact day not established in reviewed primary record.No figures reported.
3. 2012 — City acquisition for unpaid taxes reported in contemporary demolition account.No figures reported.
4. 2017 — Earlier housing sale failed; current developer and program are different.Unbuilt 120 affordable apartments; proposed $1 sale.
5. 2020-10 — Demolition completed, according to Troy’s 2021 State of the City address.No figures reported.
6. 2024 — City sale to Gulfstream reported in September 2026 account; 2026 roll corroborates assessed ownership.$275,000 reported consideration, deed not independently reviewed.
7. 2026-07-17 — Draft minutes record IDA authorizing-resolution approval and one dissent.86 homes for adults 55+; sales-tax relief up to $600,000 in attached terms.
8. 2026-09-18 — Draft IDA minutes, published in October packet, say financing/assistance closing may occur in October; no closing is established.No figures reported.
9. 2026-09-23 — Times Union reports construction has begun.$17M; developer completion target November 2027.

• Contemporary Times Union report republished by CT Post: demolition, ownership and failed 2017 plan · 2020-10-16
• Troy 2021 State of the City address, PDF p. 5: demolition completed in October · 2021
• Troy 2026 final assessment roll, printed/PDF p. 24: Gulfstream assessed owner · 2026; taxable status 2026-03-01
• Troy IDA August packet: July draft minutes, hearing report and authorizing text · 2026-08-28
• Troy October packet: September draft minutes, closing expectation · 2026-10-16
• Times Union construction-start report; project-participant interviews · 2026-09-23
• Anthony Gucciardo project page: participant account; spring target is stale · Publication date not established; accessed 2026-10-16