Burlington, Vermont - A settlement has been reached with Devonwood Investors, and the group opposing the Burlington Town Center re-development project.
There are several terms of the agreement.
Some of them include the Town Center providing additional parking for about 200 cars, in phase one.
Any future development of the site will not exceed 10 stories in height.
Also, phase one will not include a student housing lease with Champlain College, or any other university.
The settlement agreement must be approved, before re-development can proceed.
This is pending a final judgment expected from the environmental court.
Mayor Miro Weinberger congratulated all parties, for their efforts in coming up with the compromise.
Miro sent the following statementment after the settlement was reached.
“The agreement between Devonwood and the appellants appears to be a great step forward for Burlington, removing the last major hurdle in this public-private redevelopment effort that will address so many of the City’s critical challenges by creating new jobs, new housing, and new municipal revenues. I look forward to working with the City Council to review this settlement agreement and complete the City’s final development agreement with Devonwood. I thank former mayor Peter Clavelle for his leadership and hard work on this issue, and thank and congratulate all parties for their success crafting this compromise.”
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