Developer, New London agency to discuss what's up next for Fort Trumbull
New London - The Renaissance City Development Association and Riverbank Construction are trying to figure out what to do next, days after Riverbank's proposed housing development in Fort Trumbull fell apart.
Karl-Erik Sternlof, first vice president of RCDA, said Tuesday lawyers for both sides will meeting this morning to discuss the future of Village on the Thames, a 103-unit rental housing project.
"Conversations continue,'' Sternlof said. "Ultimately, we are seeking amicable solutions to this beautiful project."
He said the RCDA will provide a progress update after the lawyers meet.
Robert Stillman, an owner of Riverbank Construction, was named preferred developer in 2010 and proposed 103 housing units, which at first were going to be condominiums but later were described as rentals.
Stillman could not be reached for comment Tuesday.
A closing on the first 34 units of the project, which would have cost about $8 million, was canceled Thursday, and a groundbreaking scheduled for Monday also was postponed.
The executive committee of the RCDA rejected a proposal by Stillman to self-finance the project, saying the agency could not certify to the state Department of Economic and Community Development that certain terms and conditions were satisfied prior to the scheduled closing, as required by the development agreement.
Stories that may interest you
The City Council will ask voters at a Nov. 5 referendum whether they support bonding $5 million to continue the city’s aggressive schedule of road repaving and drainage improvements, bridge repairs and other infrastructure work.
USS Philippine Sea is among more than a dozen vessels signed up for Sept. 12-15 event.
New London Trees has a vision of the New London of yesteryear, when the streets were lined with elms and canopies of shade trees.
A committee has finalized a proposal that calls for renovating three elementary and one middle school, building one new elementary school and closing and selling five school buildings.