When word came Tuesday that Watertown's Woolworth Building had been awarded a $2.5 Million grant from Albany, it was a combination of surprise, joy and relief.
The money will allow developer Michael Treanor to move ahead with a planned redevelopment of the now vacant store and office building. His plan is for a combination hotel/retail complex. Mr. Treanor has a track record of completing successful projects in Adams and Carthage and is currently renovating a vacant warehouse on Newell Street.
The project should get going in 2010 and save the historic building that was instrumental in the development of modern retailing.
City Council had designated the building as its top priority in the wake of the streetscape and infrastructure improvements done in recent years.
We appreciate the work done by many in advancing this project.
8 comments:
While I'm sure the Woolworth bldg is a great project, I have reservations about the warehouse on Newell st. Remember there used to be a Restaurant there that didn't last long, Glad we could get some FREE money for the developer, I don't feel so bad paying my registration on my car.
It's about time Watertown got another hotel to help accommodate our massive tourism industry. I bet the employees of the other dozen or so hotels and motels are happy that they will soon be relieved of some that responsibility.
Very happy to here that some other developer got some help....
Luxary Hotel? For whom?
Nice to see AJR "dressed for the event" Poor choice for state tax dollars, my predection will be NOW will be the "manager" for the project, seriously who will stay in the project on Newell St.??
great news............
now, what are the plans for Iron Block site?
Joy and Relief??? For who? Certainly not the taxpayers, I wonder if they'll also be a PILOT agreement negotiated with the CZAR of the JCIDA?? Will the construction wages paid to the workers be underscale, like NOW, (with the councils's blessing) Why can't companies like St--am cut the cord from JCIDA????
I think the biggest problem to face the hotel on the square will be parking. As long as the rent on newell st apartments are reasonable, they should be able to get fairly decent tenants. And how is the restaurant coming along?
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