Council hears update and timeline concerns for Pratt Landing project

Council member Al Parentino asked for an update on Pratt Landing, reporting that residents had been asking what is happening and expressing concern about the project's timetable and financial implications. Department of Development staff said the developer is preparing a site-plan amendment in response to recent state building-code reference changes (ASCE 7-16 to ASCE 7-22) that affect subterranean parking structures and related design elements; staff said the developer has committed to return to the planning board and intends to file for an October planning-board meeting.

Parentino noted continued public concern that the property remains city-owned and that the city is incurring maintenance costs while an anticipated $12,000,000 investment has not arrived. He said: "We're still waiting for $12,000,000 and, you know, it's a year and 0.5 since we, signed on with them." Department staff responded they are in regular meetings with the developer and that the developer remains committed, while acknowledging a major core revision with financial implications. Staff reiterated typical extension practices (a two-year initial approval with possible one-year extensions and nominal fees, sometimes $1 per square foot) and said they would follow up on whether stronger contractual protections or fee structures could be applied if the developer does not proceed.

The manager and staff framed the project as large and complex, with staff citing components (approximately 482 dwelling units, roughly 870 parking spaces, 32,000 square feet of retail and a 150-room hotel) as part of the overall scope under consideration; they also noted market and financing headwinds that could affect timing. Council asked staff to research options that might reduce the ongoing maintenance burden on taxpayers while preserving a path for a viable development.