McDemo A Little Late

Demo work on the former McDonalds continues two weeks after the deadline to demolish it. So, what’s the hold up? Mark Walerysiak with Renaissance Downtowns said “One of the reasons has to do with coordination with the utility companies, but my understanding is it should be down soon.” Owner Joe Rodriguez had 30 days to remove the building per the agreement with the City in the land swap.

10413 005Once the building is down Renaissance Downtowns can then break ground on Phase 1. It will include a four-story residential building and 5 story mixed-use building with retail on the ground level and residential component above, including three sides of a “privately” owned “public” piazza.

Ryan Porter, VP of Renaissance Downtowns said “Financing efforts have been ratcheted up significantly the past 3-5 months, when it was known the McDonald’s move was a certainty. We continue to work with a number of interested parties on hammering out a deal, doing our best to keep you better informed on our efforts moving forward. To that end, we are presently in discussions with multiple regional/national development firms as well as foreign and domestic private equity financing sources to demonstrate to them, the economic viability of downtown Bristol in regard to innovative, mixed-use development.”

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