STAMFORD -- A gash in the earth that has marred Stamford's business district for nearly half a century has what looks to be a solid chance of actually being filled in soon, with a mixed-use development that would bring many hundreds of residents to the area, as well as shoppers and customers of a planned hotel."This is a very exciting day in Boston," Mayor Michael Pavia said Thursday, alluding to the Red Sox' World Series championship, "but it is an equally exciting day in Stamford. The `hole in the ground' has been sold. The development works with the downtown of Stamford, and is in context with what we need for the city. It's visionary and extremely creative."
Speaking at the Stamford Town Center Parking garage across the street, which provides a bird's eye view of the "hole in the ground," Pavia introduced the latest team of developers to have a go at the 4.3-acre site. Thomas Rich, president and CEO of the Stamford-based F.D. Rich Co., has teamed up with David Barry, president of Ironstate Development Co., of Hoboken, N.J., to purchase the property from Milstein Properties, a New York City-based developer, for an undisclosed sum.
If that sounds familiar, it is. Rich's late father, Robert Rich, originally owned the site in earlier decades, but gave it up after a deal to develop the land in the 1980s fell apart with the economy. \
Construction will shut down Merritt Parkway on and off ramps
Merritt Parkway’s northbound exit 41 on and off ramps will be closed from 9 p.m. Friday, Nov. 8, to 6 a.m. Saturday, Nov. 9, for paving as part of the Westport Family Y building construction project, First Selectman Gordon Joseloff announced Thursday.Motorists can expect lane closures to occur which will require a detour while the paving project is performed. Traffic control personnel and signing patterns will be utilized to guide motorists through the work zone. Motorists should be aware that modifications or extension of this schedule may become necessary due to weather delays or other unforeseen conditions. In addition, motorists are reminded to maintain a safe speed when driving in the vicinity.
$1.6B federal loan approved for Tappan Zee Bridge
ALBANY, N.Y. (AP) — A $1.6 billion federal loan has been approved for replacing the Tappan Zee Bridge over the Hudson River north of New York City, officials said Thursday.Plans call for building two new spans, with the first done in the summer of 2016, the second in 2018, and tearing down the old bridge but using the same landings. Construction is proceeding on the project, Gov. Andrew Cuomo said. The cost has been estimated at roughly $4 billion."Because it was a big project, we needed a big loan," he said, noting it's a record for similar highway projects. "This adds a critical piece, which is a financing piece."Asked about the expected tolls for drivers on the bridge or other parts of the state Thruway system, Cuomo said other questions need to be answered first, including actual construction and project management costs and the time required, which will affect the financing costs. A group is working on financing and toll plans, he said.The U.S. Department of Transportation said the loan decision followed a creditworthiness review, and the next step will be the closing and execution of a loan agreement. Replacing the Tappan Zee, an integral part of Interstate 87 on the New York's Thruway, will put people to work and make travel safer on one of the East Coast's busiest routes, according to the agency.