Burlington Mayor Miro Weinberger and CityPlace Partners have expressed confidence that the CityPlace mixed-use housing development in downtown Burlington will be completed by summer 2026. The $200 million project will replace the center section of the former Burlington Square Mall and will include at least 350 residential apartments, two hotels with a total of 350 guest rooms, 40,000 square feet of retail space, and 172,000 square feet of parking.
The project has undergone changes since its inception, including the addition of a new minority equity partner, Giri Hotel Management. The Massachusetts-based developer will manage the hotels. The project also received unanimous approval from the Burlington City Council and an amended permit from the Department of Permitting and Inspection.
The construction site, which was once a failing suburban mall, is now bustling with activity. Much of the foundation for both the North and South towers has been completed, and work is currently focused on finishing the exterior wall constructions and sheathing by the end of March.
The CityPlace Development Agreement has been amended to allow for changes to the project. These include a withdrawal from Champlain Housing Trust from the CityPlace project, with CityPlace Partners intending to build affordable housing on-site without local or federal subsidy. The amendments also allow for more hotel rooms due to their smaller size compared to residential units, and changes to in-unit heating and cooling technologies have expanded the developable square footage within the project.
The amendments also clarify that the planned community space may be provided in multiple meeting room spaces shared with and managed by the hotels. CityPlace Partners expects to complete the South Tower by early 2025 and the North Tower by mid-2026.
Despite Champlain Housing Trust’s withdrawal from the CityPlace project, affordable housing remains a component of the development. The trust will instead focus its efforts on new projects in Burlington’s New North End.
Source: vermontbiz.com