From Brian Lockhart, CT Post:
Cherry Street Lofts developer Gary Flocco and city officials have brokered at least a temporary truce over the latter’s efforts to demolish blighted buildings intended for the residential complex’s long-delayed next phase.
“We’ve come to a settlement,” Flocco said about a Monday morning status conference between the parties and a state Superior Court judge.
In September he had filed a lawsuit to thwart the teardown.
And Thomas Gaudett, Mayor Joe Ganim’s chief administrative officer, also confirmed a deal had been struck to keep the structures at 62, 72 and 80 Cherry St. and 1325 Railroad Ave. standing and hopefully finally move their renovation forward.
Over the next 90 days Flocco is to wrap those properties with netting and also pay over half a million in overdue property taxes. The tax debt must be satisfied before he receives the necessary municipal construction permits.
Full story here
The chances of this development actually coming to fruition are very slim imo,it’s been 4 years of Flocco trying to get the necessary finances to move forward,I have doubts he can even get the $ to wrap the building and pay the back taxes honestly.