NORWICH – A city-owned commercial property at 42 and 44-46 North Broad Street has new hope now that the city has found a prospective developer with an interest in rehabilitating the vacant three-story buildings.
City officials are working with the developer – which currently remains nameless until negotiations are complete – and hoping to for a purchase option agreement in the near future. Proposals for use of the building include restoring the bottom floor for commercial space and utilizing the second and third floors for seven separate rental units.
Already, the potential buyer had engineers and architects offer recommendations and develop floor plans for the 4,740 sq. ft. and 9,534 sq. ft. properties and earlier this month, the city council approved the payment of $8,000 to the developer for the cleaning and securing of the two properties. Cleaning crews rid the structure of debris and dead birds, and secured holes and broken windows – a necessary undertaking for construction crews to work inside the building.