The East Hartford Town Council will hold an executive session Tuesday night to discuss the possible acquisition of the mostly empty and dilapidated Silver Lane Plaza.
Mayor Mike Walsh, who will be present during the executive session, said “nothing is imminent,” and the meeting is only to discuss the matter. No purchase price has been discussed at this point.
The strip mall, located at 794-850 Silver Lane, is near the site of the former Showcase Cinema, which has since been razed and where New Britain-based Jasko Development plans to build a 360-unit apartment complex.
The parcel includes two lots appraised at a total of $4.2 million, according to town records.
Town Council Chairman Richard Kehoe said town officials have made it clear they would like to see more development in the Silver Lane Plaza, which is mostly vacant.
“Our vision is the apartments on Showcase Cinema will spur commercial development on adjacent parcels, of which Silver Lane Plaza is one of them,” Kehoe said, adding that the location makes the plaza ideal for restaurant, retail, and medical office developments.
Kehoe said one way the town is looking to revitalize the Silver Lane Plaza is by purchasing the site, but that it would be preferable to have it handled by the private sector.
Walsh said Silver Lane Plaza is “as poorly maintained and blighted of a property” that exists in town.
The two previous owners have not reinvested in the property, Walsh said, so the town is looking into procuring it.
“It has become apparent that the town has to become the owner to move forward with development along Silver Lane,” Walsh said.
Kehoe said nothing is set in stone regarding the property, and Walsh is simply discussing the potential purchase with council members on Tuesday night.
“I think this is in its preliminary stages, but he wants to keep us informed,” Kehoe said.
Charter Oak Plaza, which also sits adjacent to the Showcase Cinema site and the Silver Lane Plaza is losing Stop & Shop next year, as the grocery store has decided not to renew its lease.
Walsh previously said the company chose not to renew because the location was under-performing.
