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When and if the mall gets built, the city estimates it will get $6 million in new taxes every year. The state gets about $20 million in sales taxes. At least that's what the number-crunchers are saying, but the 'we-shall-see" factor applies in cases like this. In any event, the mall is being pitched as good for taxpayers and good for shoppers.
Bill McCabe, Mall Developer: "They expressed very strong interest in it, and knew that this was a marketplace they could serve." The mall had to be redesigned, pushing the cost up to $492 million. The Pirelli building will stay right where it is, and will be renovated. The mall will be built behind it. 1.3 million square feet of space. And if everything goes well, groundbreaking is scheduled for July, with completion by the end of 2001. The plan includes 5,000 parking spots for customers visiting the department stores and 150 specialty stores. Since the mall is just a stones-throw from Long Island sound, architects have fittingly designed a nautical theme, complete with masts and canopys . The project is on the fast-track, but any number of hurdles along the way can delay or derail it. The Board of Aldermen has to approve this agreement, but no real snags are expected there. The next step for the developers is getting the necessary approvals from the state - the traffic commission, Department of Environmental Protection, and Development Authority. ©1999 WTNH/WTNH-DT |