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Don Sinex Redstone s challenges could seal the project s fate. The longer the litigation lasts, the less attractive CityPlace is to lenders and the harder it becomes for the developers to meet the city-imposed deadline to start construction. If work doesn t begin by September 2022, a development agreement says that the project partners will have to pay the cost of reconnecting St. Paul and Pine streets to the city grid instead of being reimbursed by tax-increment financing funds. Allowing the former mall to sever those streets disrupted travel by motorists and pedestrians for decades and is now seen as a planning mistake. The developers deeded the land for the streets back to the city late last week, the mayor s office announced on Tuesday.
Vermont
United-states
Cityplace-burlington
Sasha-goldstein
Matthew-thorsen
Al-senecal
Larry-williams
Miro-weinberger
Dave-farrington
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John-franco