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
Norwich Tech graduating senior Cole Occhialini is hoping to eventually fulfill a life-long dream and open a ranch in Montana.
Over the years the Italian Heritage and Cultural Committee has handed out over $80,000 scholarships.
She ignores the turkeys in the back yard, and doesn’t bother the bunny or the fox family that saunters by, though she enjoys chasing squirrels she doesn’t have a prayer of catching.
As the 2020 Census nears completion, states across the country are bracing for electoral redistricting, where seats in the national and state legislatures are redistributed based on population.