Burlington, VT — On Tuesday, minority owners and local partners Dave Farrington, Al Senecal, and Scott Ireland announced they have purchased CityPlace from Don Sinex of Devonwood Investors/BTC Mall Associates. The transaction gives the local developers full ownership and control and will allow them to move forward with the project.
Sinex meanwhile will focus on phase 2 of the CityPlace development project, which involves the redevelopment of the closed mall and L.L. Bean building.
According to Farrington, additional details about the schedule will follow soon, but when the mixed-use development is completed, there will be 427 residential units, and approximately 40,000 square feet of retail, shops, restaurants, and public spaces. At least 80 of the units will be affordable housing units. There will also be a 422 car parking garage that will be opened to the public.