Manhattan-based Exact Capitol has been chosen by Mayor Joe Ganim to revitalize the city’s shuttered Downtown twin gems. According to the company website “Exact Capital is a diversified real estate development firm built on more than three decades of experience (and) principally engaged in the acquisition, finance, development, and management of mixed use residential and commercial real estate.”
More from Brian Lockhart, CT Post:
Mayor Joe Ganim is on the cusp of delivering a big campaign promise–with the help of a Madison Avenue real estate developer.
The Ganim administration has chosen Exact Capital, whose portfolio has been focused mainly on New York City, to rehabilitate the long-shuttered Majestic and Poli Palace theaters and the adjacent Savoy Hotel.
Ganim revealed the selection of Exact Capital on Wednesday in a brief interview. The mayor said the firm’s detailed, $300-$350 million development proposal, would be in the hands of the City Council by week’s end for review and approval, and therefore available to the public.
Full story here.