Building Along Mystic Waterfront May Be Rebuilt

The development group that owns an abandoned site on the Groton side of the Mystic drawbridge said it will chance the market and rebuild the four-story building to house retail shops and high-end condominiums, if the Groton Planning Commission approves its site plan.

Ken Navarro, a principal in the development partnership that owns 18-22 West Main Street, also called the Central Hall Building project, said the plan is to house five to seven retail stores on the first floor and 12 to 16 high-end condominiums on the upper floors.

The site, which is little more than a platform now, is on the Groton side of the waterfront in an area blocked off by green boards in the main shopping district.

“We candidly don’t know where the market is at, but if we could just lease the retail, we would be willing to start building the entire (project,” Navarro told the Groton Town Council this week.

Navarro said the group has inquired about lending options and has been told it can get financing if the retail space on the first floor is leased. He declined to disclose the project’s estimated cost or a price range for the condominiums.

He also said the group has resolved most of the issues raised by the Groton Planning Commission about a year and a half ago.

Once the site plan is approved, Navarro said the group will begin advertising retail space available.  The main entrance would be through the back of the building on Gravel Street. The plans also call for public walkway along the side of the building between Central Hall and the ice cream building, and along the rear of the building on the waterfront.

The Town Council granted a 30-foot easement Tuesday that would allow the builders to have an overhang that encroaches onto town property. The development group also wants to install a propane tank under the parking lot the town owns and leases to the group.

“I want so bad for something to be in that spot in downtown Mystic,” said Town Councilor Harry Watson, who moved that the easement be granted.

A third issue is whether the town and developer can alter the lease so that parking is provided for the life of the building.

The developers effectively have a 50-year lease of the parking lot, but want that lease extended.  Town Councilor Bill Johnson said in his experience, someone investing in a 30-year mortgage wants to know they’ll have parking for the length of the mortgage and beyond so they can sell the property in the future.

Navarro said the group won’t be able to sell high-end residential units in a congested Mystic without permanent parking.

“If we seem nervous about the parking, we’re nervous about the parking and for darn good reason,” he said.

Town Councilor Bruce Flax said the town should discuss the parking lease with the developer and find a solution.

“We should be trying to work together to make sure (the project) works,” he said.

The building on West Main Street was destroyed by fire more than 10 years ago. Since then, three developers have received local and state approval to rebuild it, but haven’t been able to go forward because of the economy, according to a memo by the town manager.