The latest information about ongoing redevelopment projects will be updated here. Additional details are included in the monthly Economic Development Division Update.
Mystic River Bluffs (former Mystic Education Center)
The “Mystic River Bluffs” project is advancing with staff meetings weekly. See the link for more project information https://resplerhomes.com/mystic-river-bluffs/ The zoning draft is slated for P&Z Commission review in November. Discussions are ongoing regarding The Pratt Building between Groton Parks & Recreation, OPDS, the recreational consultants (Greenplay/Pirie) and Respler Homes specific to recreation programming. A couple of scenarios are being considered prior to completing the cost estimating.
Tax Increment Financing (TIF) budgeting is still ongoing, including assistance from Camoin on behalf of Groton. Fuss & O’Neil, Respler’s engineering contractor, continues to refine design and engineering concepts for the Master Plan. Groundbreaking for Phase I is envisioned in 2021 starting with the adaptive reuse of all existing buildings plus installation of needed infrastructure. Subsequent development, primarily residential construction, is planned for Phase II.
Triton Square (former Seely School)
The “Triton Square” project short-term tax agreement was addressed by the Town Council on October 27. The agreement effectively delays net tax increases until building construction begins. The 308-unit multi-family apartment development concept plan was endorsed. Targeted future tenants are young professionals and “empty-nesters.” Anticipated property tax revenue is in the magnitude of $1 million annually.
Groton Heights School
ThayerMahan, the selected preferred developer, and the Town are finalizing legal reviews on the Purchase and Sales (P&S). The property requires environmental remediation for lead and asbestos and the town is addressing the brownfield grant agreement with the state of CT and ThayerMahan.
ThayerMahan was chosen as the preferred developer of the Groton Heights Property after an extensive marketing effort, RFP issuance, and review of qualified proposals. The company will expand its Groton business by developing a second location at the Groton Heights property. This economic development project will provide office and floor space for corporate offices, research and development, engineering, and assembly uses. ThayerMahan has grown from three to over 50 employees in three years. They are committed to the project in making this their future world headquarters.
Colonel Ledyard School
Staff introduced Bill Bellock as the preferred developer at an October 21 public meeting held on the Colonel Ledyard School property. The event was outside under a tent with short tours of the building. Neighbors, community members and elected officials attended the project unveiling. The video of the public meeting can be found here. A property purchase agreement is being finalized by Groton and the developer for Town Council review and approval.