Next steps for CityPlace project in Burlington
BURLINGTON, Vt. (WCAX) - Another promise from the lead developer of CityPlace in Burlington.
Don Sinex on Monday said the project that left a big pit in the downtown will move forward and he expects work to begin this fall if no appeals are made to further stall the development.
This all comes after a settlement with the city regarding the reconnection of Pine and St. Paul streets. The city now owns that land and the developers say the streets will get built using the voter-approved TIF money.
If the streets are not built in an agreed upon time, the developers must pick up the cost of the streets.
Now, when it comes to the actual CityPlace project, Sinex said the public can have confidence that the new scaled-down version of the project will be built.
“We’re confident that we have designed it right and we’re confident we are going to construct it right. So, yes, I would suggest they have a lot of confidence. We didn’t pay Brookfield millions of dollars and now agree to these concessions to the city because we don’t want to build the project. We’re going to build the project,” Sinex said.
The scaled-down version includes no office space, no hotel and less retail. About 400 apartments are expected to be built. The first 180 are projected to be finished in 2023.
The entire project is expected to be finished by 2026.
Sinex says they plan to build the project in phases, a strategy he hopes will make it easier to secure financing.
Watch the video to see our Dom Amato’s full interview with Don Sinex.
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