Parkade Answers Coming In Next Few Weeks: Manchester Officials

Manchester CT

26 January, 2022

7:43 PM

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MANCHESTER, CT — So the prevailing question after Tuesday's announcement that municipal officials broke ties with the company slated to develop the vacant land at the Parkade section of town is this ... Now what? "At this point, I can't say for sure about a timetable," Manchester general manager Steve Stephanou said Wednesday. "It's all up to Redevelopment Agency and the Board of Directors. Stephanou wasn't dodging the question. He was merely reiterating what he said as part of Tuesday's announcement. "Hopefully we will have an announcement in the next few weeks," he said. After Tuesday's move, Stephanou said, "The town will take this as an opportunity to move forward in a new direction, balancing the town's strategic development goals for the Broad Street area, and existing market conditions. The Town and RDA recognize and share the community's frustration with these timing delays and are eager to move forward in delivering progress on the Parkade site." Manchester Parkade I had been the company of choice for the development of the Broad Street Parkade property. It measures 23.2 acres and is cleared. Mayor Jay Moran said that, despite the town and developer investing "significant time and resources" into the project, it was time to move beyond "struggling." The RDA and the directors will now seek out a new developer with a new vision that meets the "current climate," officials said. "It think it is definitely an attractive area economically," Stephanou said.