April 24, 2014

Renaissance expects to beat today''s Depot Square deadline

A financing plan for the proposed Depot Square project is expected to be submitted before tonight's deadline established by the Bristol Downtown Development Corp.
Ryan Porter, the project manager for the Long Island-based Renaissance Downtowns, said this afternoon he was polishing off the final touches and expected to submit the plan electronically late in the day.
He said some paperwork is likely to be delivered early Friday to flesh out the submission.
Once the plan is in the hands of the city-created nonprofit, officials will review its details to determine whether it is sufficient to allow the city to go ahead with the sale of property along Main Street for the first phase of the project.
Porter said the submission package would include both public and confidential sections, though some of the secret data would likely become public when the project moves forward.
Renaissance plans to erect two buildings during the $40 million first phase of the project, with market-rate apartments in both. Shops and restaurants would fill the first floor of one, facing Main Street to the east and a new public piazza to the west.
The BDDC said it had to have the plan in hand Thursday in order to hold its scheduled monthly meeting about it on May 12. But it may hold a special meeting about it as early as Wednesday.
“Things are going to be heating up over the next couple of weeks,” Porter said.
Bristol Rising told its members Thursday that the develop intends to hold “a large public informational meeting” sometime in the first half of May “that will go into detail on the development and what the next steps are in the development process to getting the first shovel in the ground.”
“It will be a highly transparent meeting where all Bristol Risers and Bristol citizens interested in what’s happening downtown are encouraged to attend,” the BristolRising email blast said. It will likely take place at Nuchies restaurant.

Copyright 2014 All rights reserved. Contact Steve Collins at scollins@bristolpress.com

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