Council discusses lease timeline, $250,000 pledge and possible medical use for 445 Central Avenue

Scott Cannell, the developer and owner of the redeveloped Highland Park Theater property at 445 Central Avenue, told the Committee of the Whole on Oct. 6 that he is proposing a two‑year timetable to secure tenants for the ground floor and has offered the city $250,000 if specific leasing milestones are not met.

The matter grew out of a development agreement that requires ground‑floor restaurant or retail at the Central Avenue site; staff presented a suggested enforcement timeline and a letter of credit option and asked the council for feedback after Cannell offered an alternative schedule and financial pledge.

The staff proposal presented at the meeting suggested 10 months for submission of complete building permit sets; if that deadline were missed the city would retain $200,000 of the pledged amount, followed by an additional milestone tied to tenants opening that would make the remaining $50,000 available to the city if not met. Staff also proposed a $250,000 letter of credit to guarantee compliance. Cannell said he preferred providing the pledge backed by his signature rather than a letter of credit and asked the council for time to secure leases and complete buildout.

Cannell described physical constraints in the east‑end ground‑floor unit that he said make a restaurant build‑out difficult, including a narrow service corridor…