City says Fort Trumbull development delayed
“The first new construction in Fort Trumbull since the area became the focus of a national fight over eminent domain was delayed Thursday after developers apparently were unable to demonstrate how they were going to finance the $24 million Village on Thames project.
The Renaissance City Development Association said Monday’s groundbreaking for 34 units of rental housing is postponed. A closing to transfer the property to developer Riverbank Construction did not take place Thursday as planned, said Karl-Erik Sternlof, the RCDA’s first vice president.
Mayor Daryl Justin Finizio issued a statement shortly after the announcement, saying the city had fulfilled its obligations under the agreement with developer Robert Stillman, and “the responsibility now lies with the developer to provide adequate financial representations to proceed.”
Edgecomb, Kathleen. The Day 17 May 2013.