Trinity Triangle – Groundbreaking ‘imminent’
This story has been updated.
Delays in construction projects are commonplace, and it looks like some last-minute details are holding up the groundbreaking on the Trinity Triangle mixed-use apartment development in Decatur.
Lyn Menne, Decatur’s Assistant City Manager for Community and Economic Development, told Decaturish on July 23 that the project is still moving forward.
“The project developers are working through site issues and financing,” Menne said. “They are scheduled to close on the financing next week. ”
Centro Development is behind the 210 unit apartment development, and Oakhurst Realty Partners will be in charge of the leasing.
Kent Collins with Centro Development, contacted Decaturish on July 30 and said, “Our financing is in place. We are waiting to close the transaction.”
Menne said back in May that the anticipated groundbreaking would be late June or early July. July 31 is Thursday, and there’s been no movement on site. The city’s beloved Dairy Queen, which closed its doors in February to make way for the development, remains standing for now. It will be incorporated into the new development when it opens.
Collins said he hopes to announce the official groundbreaking date in the next week or so.
“We have a lot of different deadlines colliding with one another to break ground: construction loan closing, receipt of building permit, etc.,” Collins said via email. He said he’s reluctant to give a new date only to see the project delayed again, noting that the company had hoped to begin work in March.
Fisher Paty, with Oakhurst Realty Partners, sent over a copy of the leasing brochure which he’s mailing to potential tenants. The brochure includes new renderings of the proposed development. One drawing prominently shows the Dairy Queen among the other hypothetical store fronts. According to the brochure, the development will have 5,982 square feet of restaurant and retail space.
“Located between Kimball House and Twain’s, the development features three available restaurant/retail spaces ranging from 1,250 to 2,900 square feet,” the brochure says. “All three spaces have excellent visibility on E. Trinity Place, high ceiling heights and access to free parking spaces in the building’s parking deck.”
Paty said he expects the project to move forward soon.
“I’ve heard that it’s imminent but I don’t know when,” Paty said. “I would think that they’re going to be breaking ground in August if everything goes according to plan.”
Clarification: An earlier version of this story said that financing for the project hadn’t been finalized. That reporting was based on a statement from Lyn Menne who said, “The project developers are working through site issues and financing. They are scheduled to close on the financing next week.” and an email from Centro Development’s Kent Collins, who said, “We have a lot of different deadlines colliding with one another to break ground: construction loan closing, receipt of building permit, etc.” Collins was unavailable for a phone interview regarding the Trinity Development prior to the publication of this story. Collins contacted Decaturish via email on July 30 to clarify that Centro is waiting to close the transaction, but the financing is in place.