UCONN BOARD OF TRUSTEES APPROVES TERMS OF LAND SALE
Author: LeylandAlliance LLC
05/15/2006
Storrs, Conn. (May 15, 2006) - At a meeting of the University of Connecticut Board of Trustees on May 15th, the Board approved the terms of the land sale agreements between the University and Storrs Center master developer Storrs Center Alliance LLC. Storrs Center Alliance is an affiliate of LeylandAlliance LLC of Tuxedo, New York.
The finalization of these agreements, which also call for the University to provide the project with water and sewer services, is a major step forward for the much-anticipated new mixed-use town center. The land acquisition for the Storrs Center development is proceeding per a series of agreements that are linked to the phasing of the project. The first parcel to be acquired, which is just over one acre and borders on Dog Lane, will likely be the site for a small new building designed to accommodate a number of commercial and retail tenants that will be relocated from their existing locations in downtown Mansfield. The building would be sited in the Northeast section of the Storrs Center property. The value of the total land sale transaction with the University is in excess of $1,800,000.
Macon Toledano, Vice President of Planning and Development for LeylandAlliance, who heads the Storrs Center development team, states, “We’re extremely pleased with the UConn board’s approval of the land disposition agreements. These agreements are obviously of critical importance and, among other things, will allow us to proceed with the initial stage of the Storrs Center development.
We’re also grateful for the efforts of the Mansfield Downtown Partnership, who have provided support and guidance in the approval process. This is another important step in realizing the overall public/private vision for a new Storrs Center ‘Main Street’ to benefit the citizens of Mansfield as well as the University community. Our next goal is to obtain the necessary zoning approvals required to construct the first building. We look forward to a continuing dialogue with the general public, the University and local, state and federal authorities.”
Thomas Callahan, Special Assistant to the President of UConn, adds, “The creation of a downtown with stores, restaurants, housing and public spaces will provide significant benefits to the University community - including students, faculty and staff, and alumni. We have been working together with the Town of Mansfield on this project for several years and are very pleased and enthusiastic to have reached this major milestone."
In February of this year, approval was received for the Municipal Development Plan, the initial planning document that lays out the vision for Storrs Center, a new Main Street town center to be located in downtown Mansfield. The plan calls for a mixed-use, pedestrian-oriented town center located across from EO Smith High School in Mansfield. When it is completed, Storrs Center will consist of residential neighborhoods, small parks, intimate retail areas, walkable streets, and, at its heart, a beautifully landscaped town square. The entire community will be located on 15 acres within an approximately 45-acre site across from the entry to the University of Connecticut. The balance of the land will be maintained in a protected natural state.
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