SOUTHINGTON – After seven years, the foreclosure of the Beaton & Corbin site is taking place this week, clearing the way for the land to be remediated and developed by Lovley Development, Inc. into a 13,000 square foot strip mall.
Southington Economic Development Director Lou Perillo said the town has been working to get the property sold and back on the tax rolls since 2014. He anticipates the site should be remediated and the strip mall should be up by April or May of next year. The acre of property is expected to generate $40,000 to $50,000 in tax revenue.
“We’re meeting this week with the Brownfield Land Bank who will be taking title of the land – that cleared court on Friday,” Perillo said. “We should start reactivating the property by the end of next month. Crews will start by removing the brick pile foundation and we hope to have the new foundations in place by the end of the year.”
Perillo said Mark Lovely has been on-board since 2014.
“We went out to bid publically and he was the only one to respond to the bid at the time,” he said. “He could be using the strip mall for office spaces, retail or restaurants. The tenants have not yet been identified.”
For this project, the town of Southington received a $400,000 grant from the Department of Economic and Community Development. Both the town and Lovely each put in $150,000 to the project as well. Additionally, Lovely secured a $400,000 low-interest loan from the Naugatuck Valley Council of Governments for the development of the site. The town is providing Lovely with a 10-year tax abatement contingent on the building being put up.
“We’re very excited to see this project moving forward,” Perillo said. “Some of the development will be done concurrently with the remediation work. As the excavators dig up the soil they can also dig the footings for the new foundations.”
The former plumbing manufacturing plant site, located on the corner of Chapman Street and N. Main St., is adjacent to the firehouse. It was abandoned in 1989 and the site suffered from a fire in September 2003.
Town Council Chair Victoria Triano said the council is also “very excited” to see the project moving forward.
“We have been working on this for a very long time,” she said. “We tried and tried and now we’ve finally got the property sold and headed for a productive relationship with the town.”
Brian M. Johnson can be reached at 860-973-1806 or email@example.com.