An informational meeting has been held in Redding about the former Gilbert and Bennett Wire Mill site.
The vacant 55-acre site in the Georgetown section on Redding has been left untouched since a 2002 proposal for redevelopment. Parties came back to the table for further negotiations, with the last meeting being held in September. During the recent presentation, First Selectman Julia Pemberton said the Master Plan special permit expires in July of 2018, but the site plan expires next May. The owner of the property can apply for an extension through the time when the special permit expires.
Pemberton said an architectural firm working on the feasibility study completed its review of the buildings conditions and an evaluation of what it will take to stabilize them. There is an understanding that additional subsidies will have to come into play to make it economically viable.
The Georgetown Special Taxing District was awarded a multi-million dollar grant from the state Department of Economic and Community Development for infrastructure work. But the grant came with contingencies including that the developer has at least $60 million in capital investment to start constructing housing.
The redevelopment calls for commercial buildings, 416 residential units, a community theater, retail space and a commuter rail station.