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Hotel plans approved for Stone Bridge Crossing- On the morning of Monday, Oct. 23, Stone Bridge Crossing in Cheshire’s north end was the site of a ground-breaking ceremony that acknowledged the project’s substantial progress to date. The usual shovels and hard hats were present, along with...
6 things to know next week in Meriden, Wallingford, Southington, Cheshire- Things to know next week include the reopening of a renovated Meriden Public Library, along with the possible appointment of a new permanent library director.In Wallingford, the Town Council is scheduled to consider $1.5 million for a communications...
A new version of an old economic development tool — tax increment financing — is gaining traction among municipal leaders and developers who say it carries little risk and great reward, with several Greater Hartford projects serving as proof of its potential. Tax increment financing, commonly referred to as TIF, is a development finance tool that uses new or incremental tax revenue generated by a completed project to repay the costs incurred to fund it.
The 300-unit Eastpointe at Stone Bridge Crossing project, if approved by town land use boards, would be the largest apartment development in Cheshire.
Headline-grabbing proposals for a mall and outlets on an undeveloped, 107-acre piece of Cheshire’s north end came and went in recent decades. This month, bulldozers, excavators and other equipment are pushing into the wooded area, preparing utilities that will unlock the land for a large development of housing, retail and commercial uses. The key to the project finally getting off the ground is a series of agreements by the town to repay the developers of “Stone Bridge Crossing” up to $7 million in costs for sewer, water and other infrastructure investment.