New London — More than three years after a fire severely damaged the historic Bacon Building on State Street and displaced 20 residents and two businesses, building owner William Cornish says some of the 17 apartments are nearly ready to go back on the market.

Cornish said he expects at least one floor of apartments in the more than 150-year-old building to be ready to rent by March, following extensive renovations completed in the wake of the Aug. 21, 2013, fire.

The business that occupied two of the three street-level retail spaces — Monica’s State Street Diner and Zambala Grocery — have since reopened. Monica’s refurbished its space at 128 State St. and Zambala moved across the street.

Cornish blamed delays in part on the insurance company, banks and strict rules regarding historic renovations.

But he also said much of his time has been occupied with his restaurant, Copperwood Grill at 24 Eugene O’Neil Drive — also located in a building he owns.

Copperwood was closed to make way for Gus's Pizza, operated by the Patel family of Waterford, who also run a Gus's Pizza in Groton.

In what he referred to as a “business decision,” Cornish decided to lease the restaurant space, which also is home to an off-track betting parlor operated by Sportech Venues. He said the off-track betting will remain, as he is partway through a 15-year contract with Sportech, which leases the space.

"They'll stay as long as they are getting revenue," Cornish said of Sportech. "That's not my decision to make. It does bring in people."

Krunal Patel, who is in business with his father, sister and wife, promises a menu of nearly 250 items — most made from scratch — and a laundry list of specialty pizzas. The pizzeria is open from 11 a.m. to 11 p.m. and offers delivery.

“I think New London is a good opportunity for us,” Patel said.

Cornish said he has more time now for his other business ventures but also has no shortage of projects. He said he’ll likely focus on three of his properties: the Bacon Building, the former Captain’s Pizza at 8 Bank St. and the former Jason’s Furniture building at 133 Bank St.

While he looks for a tenant for the former Captain’s Pizza and a smaller space in the same building fronting State Street, he said he is considering a rehab project for the rooming house above the restaurant that would provide several full apartments to replace the six rooms.

As for the retail space, Cornish said, “The location couldn’t be any better when the (National Coast Guard Museum) gets in.”

At 133 Bank St., the location of a flea market at street level, Cornish said he has started almost entirely gutting the upper three floors as preliminary work before renovations, but has taken a step back to consider his options.

His investments in downtown don’t end there.

In addition to the Governor Winthrop parking garage, Cornish owns a long vacant 100-year-old building in a prominent location at 130 Bank St. Its last known use was as a motorcycle club and Cornish said the building is structurally not worth saving; his ultimate plan is to completely demolish it and rebuild.

Cornish said he’s never been one to sit idle and is satisfied to have so many irons in the fire.

g.smith@theday.com