The Pittsfield Economic Development Authority approves the purchase-and-sales agreement on Wednesday.
PITTSFIELD, Mass. — The permitting process is next for Waterstone Retail, which is looking to build a Walmart Supercenter at the William Stanley Business Park.
On Wednesday morning, the Pittsfield Economic Development Authority approved a purchase-and-sales agreement with the developer for the parcel known as the "teens." The company is looking to build a new 190,000 square-foot retail center at the intersection of Woodlawn Avenue and Tyler Street. The project is estimated to cost some $30 million.
"Now we have formal contracts ... the only contingency now is permits," PEDA Executive Director Corydon Thurston said after Wednesday's vote.
According to the agreement, Waterstone will lease the property during construction and then purchase it. The price is $65,000 per acre for the 16.5 acres of land, with equates to more than $1 million for PEDA.
The purchase-and-sales agreement is just the next step toward closing on the sale of the property. Thurston says he expects to sign the agreement in the coming week and then Waterstone would start seeking permits and approvals from local and state boards in January.
"There are a lot of approvals. But if they get the permits then it is a go," Thurston said.
The company had already put $20,000 down toward the sale and will be expected to pay another $45,000 down when signing the lease and purchase-and-sales agreements. PEDA's vote Wednesday morning isn't that much different from the letter of intent the organization approved in June but it turns the concept into a legal contract, setting timelines and parameters for the execution of the sale.
"The board has now acted on a party interested in investing in this community," PEDA Chairman Mick Callahan said.
Meanwhile, Thurston continues his attempts to lure a manufacturing company to the park, with what he has dubbed "Project 40." Thurston said for some six months now he has been talking with an interested company, whom he did not disclose, to relocate to one of the parcels. The prospect even got the attention of state Secretary of Housing and Economic Development Jay Ash, who previously said he, too, was visiting the company.
"We're still moving forward in an aggressive way," Thurston said.
Moving forward with attempts to attract this undisclosed company also includes applying for a state grant to upgrade the railroad siding. Thurston said the company is interested in shipping in raw material via rail and is also intrigued by the Berkshire Innovation Center plans. The parcel on the north side of the tracks already has a 100,000 square-foot foundation slab, which Thurston says will save any company looking to build some 40 percent on the total cost.
While the company may be interested in utilizing the proposed Berkshire Innovation Center, there remains a funding gap to get it actually built. Thurston said there has been no movement from the state yet to fund the $3 million shortfall.
"The BIC board is optimistic there will be some movement," Thurston said.
Also on Wednesday, PEDA approved a 2017 budget with a 6 percent reduction; approved hiring Adelson & Co. to perform the audit on the 2016 finances; and appointed former City Councilor Barry Clairmont to chair the finance committee.
The developers of the proposed Walmart Supercenter at the William Stanley Business Park has put down $20,000 toward the purchase of the land. The Pittsfield Economic Development Authority extended the letter of intent with Waterstone Retail Development until the end of December, making more time for the two sides to reach a purchase and sales agreement. In good faith, Waterstone has put down a $20,000 non-refundable deposit toward the purchase.
The City Council opted against asking Waterstone Realty for an independent economic impact study on the proposed Walmart Supercenter at this time. The council voted 6-4 against Downtown Pittsfield Inc.'s request to have the developer pay for an independent consultant to analyze the economic the project to build a 190,000 square-foot store at the William Stanley Business Park. However, some councilors said they'd like a study done, once a proposal is made and the once the scope of the study is
If Anton Melchionda, principal with Waterstone Retail, had a manufacturer looking to move to the teens complex of the William Stanley Business Park, he'd build the building. But, he challenged anyone and City Councilor Melissa Mazzeo to find it.
These three open houses follow an event in May focused specifically on the Waterstone Development proposal to site a 190,000 Walmart Supercenter on a challenged lot in the small urban business park near Tyler Street. Another public presentation will be held by Waterstone on Monday, Sept. 19, at 6 p.m. at Morningside School.
The Pittsfield Economic Development Authority extended the timeframe to reach a land lease agreement with Waterstone Realty for the development of a Walmart Supercenter. On Tuesday, PEDA approved the extension to the letter of intent. Executive Director Corydon Thurston said the original 60-day window was "too aggressive" and hopes to have an agreement before the board by the next meeting.
The City Council wants a chance to ask the proponents of a new Walmart at the William Stanley Business Park some questions. However, the council needs another organization to host a discussion to avoid legal conflicts. So, the council agreed to ask the Pittsfield Economic Development Authority to host one with the developer Waterstone Realty in the City Council chambers.
Joe Castoldi has run his barber shop for years on Tyler Street, just a block away from where the proposed Walmart Supercenter is eyed to be built. The supercenters often have a salon inside the building so one would think Castoldi would be worried about competition - especially competition from such a large corporation. But he's not.
For the last 10 years Evan Hickok has formed good relationships with many of his co-workers at General Dynamics. They are recruited from out of town, come to work as engineers, and the staff at the Pittsfield facility grows a friendship. And then the young professionals leave for what they see are greener pastures. They leave for the city life of Boston or New York envisioning a thriving social scene and nightlife.
The ultimate say over the project may come before the City Council, which will be asked to approve a special permit because of the size of the store. So far, the majority of the City Council says they are keeping an open mind about the project and waiting for additional answers.
Walmart's Director of Public Affairs & State and Local Government Relations Chris Buchanan says, "holding out hope for industrial development of the site does a disservice to the residents of Pittsfield." He said the cost to remediate the land, fix the stormwater runoff, and road work adds up to $12 million, a cost few companies would bear when there are other properties for development at a lower cost.
In an interview on Wednesday, Bloomberg argued that despite increased jobs and tax revenue, the city's long-term economic picture is hindered by such a development. He would rather the city took a more aggressive approach at bringing in light manufacturing and other higher-paying jobs to the site.
As the proposed Walmart Supercenter debate begins to unfold, the developer's claims of increased tax revenue reflect what happened in North Adams. In 2013, the company closed the store it had been occupying for since 1993 and moved down the road to a former gravel bed. The gravel bed had been assessed at $1,613,800 and the redevelopment upped the value to $10,694,900, according to Ross Vivori, chairman of the North Adams Board of Assessors.
Finally. The Woodlawn Avenue Bridge is finally opened after being closed for a decade. City, state and Pittsfield Economic Development Agency officials commemorated the re-opening of the north to south connection between the Morningside Neighborhood and East Street. The bridge used to be own by General Electric and was closed in 2006 and was demolished in 2012.
Part of the selling point for the new Walmart at the William Stanley Business Park is that it will ease an environmental burden on PEDA coming down the road. Last year, the Environmental Protection Agency issued a new draft permit for the Pittsfield Economic Development Agency's ability to drain stormwater into Silver Lake.
Wal Mart is looking to move to the William Stanley Business Park. The Pittsfield Economic Development Agency granted Waterstone Retail a letter of intent, giving the company and exclusive right to pursue development of a 16.5 acre parcel known as "the teens," where General Electric buildings once stood.
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