Preston – The Preston Redevelopment Agency has received three proposals for development of the former Norwich Hospital property, including one from the developer of a hotel on Route 2.
Commercial Development Company Inc. of St. Louis, which specializes in the acquisition and development of “environmentally challenged commercial, industrial and retail properties,” according to Bloomberg Business Week’s website, submitted one bid.
JHM/Financial and Connecticut Light and Power combined to submit the second proposal, and Triple L Holdings, Inc., which now is building a hotel at the corner of Watson Road and Route 2, submitted the third.
The redevelopment agency released only the names of the three firms that submitted plans, no details about the plans themselves. A state law allows the agency to keep nearly all information confidential until an agreement is reached.
“I think a lot depends on the substance of their proposals,” First Selectman Robert Congdon said. “It’s just a horrible economy right now and it’s very encouraging that we got three proposals. What they plan to do and whether they have the financial wherewithal remains to be seen.”
A PRA subcommittee hopes to review the proposals by Oct. 5 and present a “short list” of firms to be interviewed by Oct. 12. A target date to have a contract in place is “to be determined,” according to the proposed time schedule released by the PRA.