Downtown Bennington redevelopment project under way
BENNINGTON, Vt. (AP) — A redevelopment project in downtown Bennington is officially under way.
The Bennington Banner reports that construction started on the first phase of the Putnam Block redevelopment project on Tuesday.
The four-acre site is expected to be transformed into a mixed-use urban area with a medical office building, housing, restaurants and retail space.
The years-long revitalization plan got a boost last Friday with the closing on a $54 million financing package.
Project developers and local officials gathered Tuesday to celebrate the closing of the financial deal.
The complex financing package includes at least 17 agencies or institutions providing funding toward the first phase of work, estimated to cost about $27.6 million.
Information from: Bennington Banner, http://www.benningtonbanner.com