User9045_5_t West Hartford CT Real Estate Agent | West Hartford Realtor | Michael Chenkus
Find Homes for Sale in your city:
Members: 122,540 - 1,773 Online Now  Login
 
Renaissance Place back on track
 Special district for Naugatuck's downtown plan approved


 BY PAUL SINGLEY
 REPUBLICAN-AMERICAN

NAUGATUCK - The Zon­ing Commission unanimously approved a special develop­ment district Thursday that will set parameters for a downtown revitalization proj­ect called Renaissance Place.
 

After more than four months of mulling over details of the plan, the commission voted 5-0 at Town Hall to move forward with the plan. The commission's decision al­lows developer Alexius C. Conroy to begin lining up fi­nancial backers for his $707 million project, which would be built in four phases over 15 years.

"We have gotten the docu­ment to a point that we're comfortable with, and that is fair," said Mike Ciacciarella, the commission's chairman.
 

The commission has been under pressure by borough officials for several months. More pressure came Tuesday, when Naugatuck officials ap­plied for $30 million in state grant funding to make the project a reality and state offi­cials said they wouldn't vote to approve the money until they knew the special devel­opment district was in place. Still, commissioners said the only thing they thought about was getting the plan right, no matter how long it took.
 

"It has the proper protec­tions for the borough, and it has as much details as it should," Ciacciarella said. "We happen to be very thor­ough and we don't skimp on the details."
 

The development district spells out what can and cannot be included in Renaissance Place, a mixed use, residential and commercial plan, which is the first such project in Nau­gatuck history. It will include a mix of upscale condomini­ums, retail storefronts, office spaces, entertainment venues, hotels and other amenities in downtown.
 

A couple of the many stipu­lated agreements in the devel­opment district are that the plan cannot include tattoo parlors or adult-oriented en­tertainment venues. It also says buildings cannot be more than 120 feet tall.
 

The Naugatuck Economic Development Corp., the group that has worked toward down­town revitalization for the past three years, said the plan will allow the borough to be­gin generating tax revenue as well as creating jobs. The plan is expected to bring an annual $4.4 million in taxes and 2,500 construction jobs, as well as 950 on-site jobs.
 

Still, the corporation's chair­man, Jay Carlson, reminded residents that a revitalized downtown is still years away.
 

"Work is just beginning, and one thing we need to explain to people is that this is a process and it doesn't mean we're go­ing to have a shovel in the ground next week," he said.
 

He said people are excited for the plan, which taxpayers approved overwhelmingly at a referendum in May.
 

Michael O'Connor, vice president of Conroy Develop­ment Co. based in Fairfield, said his company will not let people down.
 

"The Zoning Commission had a difficult task in front of them, and I appreciate their efforts," he said. "The fact re­mains, though, that because this process has taken so long, we are behind schedule. We are not saying that is anyone's fault, but it's something we are going to have to be aware of moving forward."

 
This post has been included in Connecticut Information

0 Comments on Naugatuck CT Real Estate | Renaissance Place | Naugatuck Real Estate Agent News

Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: West Hartford CT Real Estate Agent |  West Hartford Realtor | Michael Chenkus (ERA Broder Group)
West Hartford CT Real Estate Agent | West Hartford Realtor | Michael Chenkus
West Hartford, CT
More about me…
ERA Broder Group

Cell Phone: (860) 985-5559
Email Me


Links

Archives

RSS 2.0 Feed for this blog

Find CT real estate agents and West Hartford real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved