By James Lomuscio
Westport’s Planning and Zoning Commission (P&Z) tonight heard developer David Waldman’s proposed land swap on Elm Street—one that would allow him to put up a $7 million building on a piece of the town’s Baldwin Parking Lot in exchange for land across the street, netting the town nine additional parking spaces.
The property at 36 Elm St. would be turned into a parking lot to be swapped for town-owned land in the Baldwin lot across the street. (CLICK TO ENLARGE) Contributed photo
Waldman, principal of David Adam Realty who is heading the nearby Bedford Square Pproject, also owns the historic Kemper Gunn House relocated to the town lot three years ago.
With Frist Selectman Jim Marpe supporting the land swap and requesting a positive P&Z endorsement, Waldman and his architect Rick Hoag detailed the plan. The P&Z took no action, but closed the hearing to later vote on the matter.
The proposal includes Waldman buying the Villa Del Sol building and property totaling .15449 acres at 36 Elm St., on which he has an option, for $6 million, including buying out the restaurant’s lease. He then plans to raze the building, making the area it into a parking lot.
It would be traded with a .15395-acre town parcel across the road at 35 Elm St. There, Waldman plans to construct a building for retail and residential tenants, with one of the apartments being affordable.
Based on Waldman’s building plans, Tax Assessor Paul Friia said the new 35 Elm St. building’s market value would be approximately $7 million netting $82,600 in annual tax revenue. That is a net gain of $38,000 from the current restaurant building valued at $3.7 million, he said, and currently generates $44,600 a year.
“So there’s an upside,” Friia said.
Marpe said he is enthusiastic about the proposal for myriad reasons. In addition to increased taxes, the town gains nine parking spaces in a parking stressed downtown, improved streetscaping and new sidewalks making the downtown more pedestrian friendly.
“This is a fair exchange in which the town is getting strong immediate benefits, improved financial returns and property with a long term significant future value,” Marpe said in making the 8-24 request. “It is important to understand that this is also a unique opportunity which is time limited and cannot be duplicated by any other parties.
“It is an equitable exchange which is a win-win for all involved,” he added. “It also achieves a number of objectives that have the potential to help the town overcome some existing physical problems on the street.”
Marpe said that town staff members have examined the impact of the exchange “from many perspectives and how it might impact Elm Street.”
Town Planning and Zoning Director Steve Palmer also touted the project’s benefits in his report, saying it would make the downtown more pedestrian friendly.
“It is the last leg of the triangle tying Main, Elm and Church streets together,” he said.
Palmer’s report was criticized as being too rosy by commissioner Chip Stephens and a couple of members of the public.
“This is very strange for the town to be advocating this,” said Stephens, adding that the onus should be on the developer.
“I’ve really got to question what the value of this is to Westporters,” he added, saying that it would only benefit out-of-town shoppers.
“Is this the outdoor mall Westporters are going to benefit from?” he asked. “I don’t think so.”
Other P&Z members appeared to take a more positive view.
“We can’t fault the developer for bringing people downtown again, for making it a better place,” said Andra Vebell.
Stephens wanted to keep the matter open for another meeting, so he could learn more about the parking. He wanted to know if the nine spaces would be a wash in relation to planned new construction.
The P&Z majority, however, voted to close it, with Stephens abstaining.
As a 20-year resident and President of the Downtown Merchant’s Association, I would have to disagree with Mr. Stephen’s statement that this would benefit only out of town shoppers, and that it would have questionable value to Westporters.
As stated, this will help to complete the “downtown triangle” of our shopping district – which will not only draw in additional merchants for our local shoppers to frequent, it will make us more competitive with neighboring towns who have larger shopping district footprints, and upcoming mall projects – who can draw away both our local and visiting shopper, both who are important to sustain our merchant base and attract others. It will also lead more shoppers towards downtown stores off of Main Street during their shopping visits.
This plan has holistic support – from the Town, our merchants and the general public, because it is truly a win for all.
Randy Herbertson