New Bid Package Sent Out For Manchester Parkade Development

Manchester CT

17 March, 2022

11:01 AM

Description

MANCHESTER, CT — Bids are being solicited as part of the latest efforts to develop the Broad Street Parkade property in Manchester. Bids are due May 5. According to the official request for proposal in the town's bid portal, town officials are seeking "a high-quality development that will bring vitality and drive new investment to the Broad Street Redevelopment Area." Welcome are, "creative proposals supported by market conditions that achieve the town's vision for a vibrant district." All concepts and uses will be considered as long as they meet the general purpose and vision of the Form-Based Zone, according to the bid specifications. The town-owned property is at Nos. 296, 324, 330, 334 and 340 Broad Street and spans 23.2 acres. Finding a new developer has been on the radar since late January, when the town has ceased negotiations with Manchester Parkade I principals for the development of the Broad Street Parkade property. Town officials said at the time that developer had "struggled to move the project forward." The Manchester Board of Directors, the local Redevelopment Agency, and town staff members then regrouped to put together a new bid package. The split with Manchester Parkade I was in "the best interest of the town and its taxpayers," officials said. Redevelopment of the Broad Street Parkade is the last major piece of the Broad Street Redevelopment Plan yet to be completed. Since 2010 the town of Manchester has: Acquired the Parkade and demolished blighted retail buildings.Reconstructed Broad Street itself in partnership with the state of Connecticut.Negotiated and terminated cross-easements and purchased subsequent property to allow for redevelopment.Completed the Center Springs Park expansion, including installation of the Cheney Trail bridgePurchased the Nichols property, demolished the blighted buildings, and commenced with environmental remediation in partnership with the state. Town officials said they anticipate "renewed development interest" in the site.