GREAT EXPECTATIONS FOR 2010
Author: Mansfield Downtown Partnership, Inc. and LeylandAlliance LLC
01/25/2010
Dear Friends and Supporters of Storrs Center:
We send you greetings with great expectations for Storrs Center in the New Year. Proceeding into the first quarter, we have every confidence that 2010 will be a pivotal and positive time for our development.
To put the current status of Storrs Center in perspective, it's worth a brief look back at the significant achievements and progress made during 2009:
* The Connecticut Department of Transportation approved the certificate for improvements to Storrs Road. This represents the last major required preconstruction approval for the project and clears the way for submittal of individual building applications in the first phase.
* Nine letters of intent have been signed with prospective tenants who will begin to establish the diversified mix of businesses around the Town Square. These preliminary commitments include a variety of dining establishments, new retailers, and local service companies that will cater to a wide spectrum of Mansfield residents and the UConn community. We are pleased to welcome into the project mix several established Mansfield businesses.
* The Storrs Road design has moved into the final construction drawing phase in anticipation of a 2010 construction start. The construction of these major improvements to Storrs Road will signal that Storrs Center is finally a reality.
* Regular forums, such as the well-attended League of Women Voters presentation, were held to keep the public informed about the project.
* Productive discussions were held by the development team with prospective lenders and investment partners. In 2010, we will look forward to announcing the financial and banking partners who will be joining the Storrs Center team.
* We have advanced the design for Phase 1A in conjunction with ongoing discussions regarding the mix of residential and commercial uses.
* A parking steering committee was organized to study and recommend how to best accommodate the parking needs of Storrs Center.
Looking to the months ahead in 2010, we anticipate a number of significant developments:
* Financing arrangements for Phase 1 are expected to be finalized.
* Construction documents for the new "main street" improvements along Storrs Road will be completed and submitted for bidding. Prior to a request for qualifications, the design will be presented as part of a public hearing.
* Leasing activity will continue, and important new letters of intent will be signed.
* Demolition work should commence in preparation for road work and infrastructure along Storrs Road, on Dog Lane, and around the future Town Square.
* A ceremonial groundbreaking is anticipated in conjunction with the start of infrastructure development and work along Storrs Road.
We look forward to keeping the community apprised throughout the year on significant benchmarks and milestones.
Thanks again for the great and consistent support from so many.
You can track significant events on the websites for the Mansfield Downtown Partnership (www.mansfieldct.org/dtp.html) and Storrs Center (www.storrscenter.com).
Best wishes for a happy and prosperous New Year.
Steve J. Maun, President, LeylandAlliance LLC
Philip Lodewick, President, Mansfield Downtown Partnership, Inc.
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