Wednesday, October 2, 2013

DEAL DONE: CATALANO'S REDEVELOPMENT PROJECT A GO

Developer Lance Osborne informed Council last night that Fitworks had committed to be the anchor tenant for his "Brainard Crossings" project.
That means the redevelopment of the Catalano's grocery store property at the corner of Wilson Mills and Brainard Roads is officially a "GO".
Of course Osborne's no fool...and once again the city is over a barrel.

Inserted into the lease with Fitworks is this contingency (required condition): 

that the city will approve Osborne's property tax abatement request.
 I'll have more on last night's meeting later, but residents should expect to see activity at the redevelopment site soon.

According to Osborne, he will "close" on the property (i.e. formally purchase it) on October 18th.
Demolition work---which will start indoors and then move outside----is scheduled to begin October 21st.