Burlington, Vt. – Mayor Miro Weinberger issued the following statement after a group of local investors acquired full ownership and control of Phase One of CityPlace (the currently vacant land that was formerly part of the downtown mall) in downtown Burlington.
“The change in CityPlace Phase One ownership announced today represents a major step forward for the CityPlace project, and a major step closer to the realization of hundreds of homes and jobs, and the dramatic growth of the City’s property tax base that we have been persistently working toward for years. This project will now be led by committed, experienced, local partners who have a long record of delivering successful building projects in our community. I look forward to supporting the new leadership team, and working to ensure that TIF Investment remains a viable part of the plan to build new ’Great Streets’ through the project.”
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