Please do not leave this page until complete. This can take a few moments.
Waterbury officials are hoping to find a buyer interested in redeveloping a city-owned, 23,000-square-foot office and retail building in the heart of its downtown.
The city purchased the 1986-vintage building at 20-30 Bank St., along with a neighboring 62,690-square-foot commercial building at 21 West Main St., for $4.47 million last December. The buildings were mostly vacant and suffering from neglect.
At the time, city officials believed they could guide the prominent buildings to a better destiny.
On Monday, the city issued a request-for-proposals, asking would-be buyers for plans and offers. Responses are due back the morning of Nov. 22.
The 38-year-old, two-story building at 20-30 Bank St. is largely vacant, apart from a single, ground-floor restaurant.
Officials would like to see it redeveloped into a mix of housing and retail. But they are open to other proposals.
“Apartments would be ideal, but anything that brings additional vibrancy downtown,” said Waterbury Development Corp. Executive Director Thomas Hyde.
The city plans to hang onto the larger building, at 21 West Main St., at least for a couple years. Portions of it will be leased to office users. The bulk of the building will be used as temporary “swing space” for municipal workers who will be displaced during a renovation of the nearby Chase Municipal Building.
Waterbury Finance Director Michael LeBlanc said the city intends to eventually sell the larger building as well.
Economic Development Director Joseph McGrath described the building at 20-30 Bank St. as “solid,” but admits it needs some cosmetic work. He said the building configuration would lend itself to easy conversion into apartments, with the possibility for quaint shops and restaurants below.
With more than 100 new downtown apartments due to come online downtown in the coming year, and more in the pipeline, McGrath anticipates snowballing demand for both apartments and retail amenities.
Bank Street, its sidewalks and streetscape are also scheduled for a complete cosmetic overhaul in the coming year, part of an ongoing improvement project for major downtown Waterbury arteries.
“I’m excited about it,” McGrath said of the Bank Street building. “I always thought it was a diamond in the rough.”
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments