Troy is believed to have been founded by Ilus, son of Troas, giving it the names of both Troy and Ilios (Ilium) with some slight variants.
“According to new evidence obtained from excavations, archaeologists say that the ancient city of Troy in northwestern Turkey may have been more than six centuries older than previously thought. Rüstem Aslan, who is from the Archaeology Department of Çanakkale Onsekiz Mart University (ÇOMU), said that because of fires, earthquakes, and wars, the ancient city of Troy had been destroyed and re-established numerous times throughout the years.” This report pushes the origins of this famous city back to around 3500 BC.(s)
The city is generally accepted by modern scholarship to have been situated at Hissarlik in what is now northwest Turkey. Confusion over the site being Troy can be traced back to the 1st century AD geographer Strabo, who claimed that Ilion and Troy were two different cities!(t) In the 18th century many scholars consider the village of Pinarbasi, 10 km south of Hissarlik, as a more likely location for Troy.
The Hisarlik “theory had first been put forward in 1821 by Charles Maclaren, a Scottish newspaper publisher and amateur geologist. Maclaren identified Hisarlik as the Homeric Troy without having visited the region. His theory was based to an extent on observations by the Cambridge professor of mineralogy Edward Daniel Clarke and his assistant John Martin Cripps. In 1801, those gentlemen were the first to have linked the archaeological site at Hisarlik with historic Troy.”(m)
The earliest excavations at Hissarlik began in 1856 by a British naval officer, John Burton. His work was continued in 1863 until 1865 by an amateur researcher, Frank Calvert. It was Calvert who directed Schliemann to Hissarlik and the rest is history(j).
However, some high profile authorities such as Sir Moses Finley (1912-1986) have denounced the whole idea of a Trojan War as a fiction in his book, The World of Odysseus . Predating Finley, in 1909, Albert Gruhn argued against Hissarlik as Troy’s location(i).
The Swedish scholar, Martin P. Nilsson (1874-1967) who argued for a Scandinavian origin for the Mycenaeans , also considered the identification of Hissarlik with Homer’s Troy as unproven.
Troy as Atlantis is not a commonly held idea, although Strabo, suggested such a link. So it was quite understandable that when Swiss geo-archaeologist, Eberhard Zangger, expressed this view  it caused quite a stir. In essence, Zangger proposed(g) that Plato’s story of Atlantis was a retelling of the Trojan War.
For me the Trojan Atlantis theory makes little sense as Troy was to the north east of Athens and Plato clearly states that the Atlantean invasion came from the west. In fact, what Plato said was that the invasion came from the ‘Atlantic Sea’ (pelagos). Although there is some disagreement about the location of this Atlantic Sea, all candidates proposed so far are west of both Athens and Egypt.(Tim.24e & Crit. 114c)
Troy would have been well known to Plato, so why did he not simply name them? Furthermore, Plato tells us that the Atlanteans had control of the Mediterranean as far as Libya and Tyrrhenia, which is not a claim that can be made for the Trojans. What about the elephants, the two crops a year or in this scenario, where were the Pillars of Heracles?
A very unusual theory explaining the fall of Troy as a consequence of a plasma discharge is offered by Peter Mungo Jupp on The Thunderbolts Project website(d) together with a video(e).
Zangger proceeded to re-interpret Plato’s text to accommodate a location in North-West Turkey. He contends that the original Atlantis story contains many words that have been critically mistranslated. The Bronze Age Atlantis of Plato matches the Bronze Age Troy. He points out that Plato’s reference to Atlantis as an island is misleading, since at that time in Egypt where the story originated, they frequently referred to any foreign land as an island. He also compares the position of the bull in the culture of Ancient Anatolia with that of Plato’s Atlantis. He also identifies the plain mentioned in the Atlantis narrative, which is more distant from the sea now, due to silting. Zangger considers these Atlantean/Trojans to have been one of the Sea Peoples who he believes were the Greek speaking city-states of the Aegean.
Rather strangely, Zangger admits (p.220) that “Troy does not match the description of Atlantis in terms of date, location, size and island character…..”, so the reader can be forgiven for wondering why he wrote his book in the first place. Elsewhere(f), another interesting comment from Zangger was that “One thing is clear, however: the site of Hisarlik has more similarities with Atlantis than with Troy.”
An American researcher, J. D. Brady, in a somewhat complicated theory places Atlantis in the Bay of Troy.
To confuse matters further Prof. Arysio Nunes dos Santos, a leading proponent of Atlantis in the South China Sea, places Troy in that same region of Asia(b).
Furthermore, the late Philip Coppens reviewed(h) the question marks that still hang over our traditional view of Troy.
Felice Vinci has placed Troy in the Baltic and his views have been endorsed by the American researcher Stuart L. Harris in a number of articles on the excellent Migration and Diffusion website(c). Harris specifically identifies Finland as the location of Troy, which he claims fell in 1283 BC although he subsequently revised this to 1190 BC, which is more in line with conventional thinking. The dating of the Trojan War has spawned its own collection of controversies.
However, the idea of a northern source for Homeric material is not new. In 1918, an English translation of a paper by Carus Sterne (Dr. Ernst Ludwig Krause)(1839-1903) was published with the title of The Northern Origin of the Story of Troy.(n)
Iman Wilkens is arguably the best known proponent of a North Atlantic Troy, which he places in Britain. Another scholar, who argues strongly for Homer’s geographical being identifiable in the Atlantic, is Gerard Janssen of the University of Leiden, who has published a number of papers on the subject(u).
Most recently (May, 2019) historian Bernard Jones(q) has joined the ranks of those advocating a Northern European location for Troy in his book, The Discovery of Troy and Its Lost History . He has also written an article supporting his ideas in the Ancient Origins website(o). For some balance, I suggest that you also read Jason Colavito’s comments(p).
Steven Sora in an article(k) in Atlantis Rising Magazine suggested a site near Lisbon called ‘Troia’ as just possibly the original Troy, as part of his theory that Homer’s epics were based on events that took place in the Atlantic. Two years later, in the same publication, Sora investigates the claim of an Italian Odyssey(l).
Roberto Salinas Price (1938-2012) was a Mexican Homeric scholar who caused quite a stir in 1985 in Yugoslavia, as it was then, when he claimed that the village of Gabela 15 miles from the Adriatic’s Dalmatian coast in what is now Bosnia-Herzegovina, was the ‘real’ location of Troy in his Homeric Whispers.
More recently another Adriatic location theory has come from the Croatian historian, Vedran Sinožic in his book Naša Troja (Our Troy). “After many years of research and exhaustive work on collecting all available information and knowledge, Sinožic provides numerous arguments that prove that the legendary Homer Troy is not located in Hisarlik in Turkey, but is located in the Republic of Croatia – today’s town of Motovun in Istria.” Sinožic who has been developing his theory over the past 30 years has also identified a connection between his Troy and the Celtic world.
Fernando Fernández Díaz is a Spanish writer, who has moved Troy to Iberia in his Cómo encontramos la verdadera Troya (y su Cultura material) en Iberia  (How we find the real Troy (and its material Culture) in Iberia.).
Like most high-profile ancient sites, Troy has developed its own mystique, inviting the more imaginative among us to speculate on its associations, including a possible link with Atlantis. Recently, a British genealogist, Anthony Adolph, has proposed that the ancestry of the British can be traced back to Troy in his book Brutus of Troy.
It is thought that Schliemann has some doubts about the size of the Troy that he unearthed, as it seemed to fall short of the powerful and prestigious city described by Homer. His misgivings were justified when many decades later the German archaeologist, Manfred Korfmann (1942-2005), resumed excavations at Hissarlik and eventually exposed a Troy that was perhaps ten times greater in extent than Schliemann’s Troy(r).
(k) Atlantis Rising Magazine #64 July/Aug 2007 See: Archive 3275
(l) Atlantis Rising Magazine #74 March/April 2009 See: Archive 3276
(n) The Open Court magazine. Vol.XXXII (No.8) August 1918. No. 747 See: https://archive.org/stream/opencourt_aug1918caru/opencourt_aug1918caru_djvu.txt