Plans Released For Former Loew’s Theater

The “M Squared” development company has announced plans to construct a new residential-retail project on the site of the former Loew’s Theater (until recently, occupied by the Palladium Nightclub.) M Squared proposes a seventeen story condominium tower of 152 apartment homes in an attractive masonry and brick design. The ground level will feature 7,500 square feet of retail on Main Street. The historic façade of the theater will be preserved and rehabilitated — an especially nice touch. Aside from a requested zoning change, M Squared is not seeking any incentive from the City, and its project will be subject to full taxation. This is more good news for our downtown, and it reflects the growing strength of our housing market.

MOU Completed For Church-Division Project

The City has concluded a Memorandum of Understanding (MOU) with Simone Development Companies for redevelopment of the Church-Division garage site. As previously reported, this development will include 438 condominium apartments, in both tower and townhouse styles, almost 50,000 square feet of retail and office space, a 20,000 square foot public park, and a 24,000 square foot public plaza. In addition, the developer will construct an 859 space parking garage on the site of the current Prospect Street parking lot. The MOU requires that construction commence on the new garage by November 15, 2006 and on the bulk of the project by May 15, 2007.

Retail Center Proposed For Palmer Avenue

Rosenshein Associates has presented the City with plans to construct a new retail center on the site of the Powers Fastening building, next to Stop and Shop on Palmer Avenue. As proposed, the new center would include roughly 70,000 square feet of retail space, with an adjacent four level parking garage. Rosenshein anticipates filling the retail space with a single large tenant. The City has not yet had an opportunity to review these plans in detail or to explore fully the environmental and neighborhood impacts of such a development. I look forward to such an analysis and to public input on the merits of the project.