Fairfield County Business Journal 112116

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4 | HISTORY REFURBISHED November 21, 2016 | VOL. 52, No. 47

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS

Developer back with Darien redevelopment plan

An artist’s rendering of the Corbin Drive East portion of the mixed-use redevelopment proposed by Baywater Properties in Darien.

Hoping for the best

BUT BUSINESS LEADERS ALSO UNCERTAIN ABOUT TRUMP PRESIDENCY BY KEVIN ZIMMERMAN kzimmerman@westfairinc.com

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ssessing the potential economic and business impact on Fairfield County of the impending Donald Trump presidency is a difficult undertaking for business leaders and experts alike … in no small part because of the conflicting signals the president-elect has sent between the campaign trail and his electoral victory. “Is it a cause for hope, concern, or see-

ing opportunities? Probably all three,” said Joe McGee, vice president, public policy and programs at The Business Council of Fairfield County in Stamford. “The word that first comes to mind is ‘uncertainty,’” said Pete Gioia, vice president and economist for the Connecticut Business & Industry Association, based in Hartford. “Trump made a lot of bold comments during the campaign, but has moderated a lot of that since being elected. How it all translates into affecting business is something we’ll have to wait and see.”

“In general, he’s offered very conflicting viewpoints on a number of issues,” said Khawaja Mamun, associate professor of economics and finance/business economics department chair at Sacred Heart University in Fairfield. “He’s been in favor of increasing government spending and in making spending cuts. He’s talked about tax cuts, but for whom hasn’t been entirely clear. On the spending side, he’s promised a bigger and more expensive defense. However, he’s also talked about cutting government spending by closing loopholes.” One of the biggest bones of contention in the early going has been the future of the Affordable Care Act, aka Obamacare, which Trump repeatedly promised to “repeal and replace” during the campaign. Last week, however, the president-elect indicated that he may keep two of the law’s most popular provisions – allowing children of up to age » » Trump, page 6

18 | DOGS IN TRAINING westfaironline.com

BY KEVIN ZIMMERMAN kzimmerman@westfairinc.com

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arien developer Baywater Properties has returned to Darien town officials with a revised proposal for an ambitious mixeduse downtown development after withdrawing a project application in late September when officials delayed acting on a needed zoning amendment. Baywater has been working for more than 11 years on the project, designed to make Darien's downtown shopping area more competitive with nearby Greenwich, New Canaan, Norwalk and Stamford. The redevelopment project’s focus is the area between the Bank of America building at 1120 Post Road and the Darien post office at 30 Corbin Drive. The developer has proposed to build 66 condominium units, expand retail space from 49,000 to 75,000 square feet, more than double existing office space, from 42,000 square feet to 95,000 square feet, and create a village green along Post Road. Baywater also intends to construct a two-level underground parking deck, along with two new streets and a service road near Old Kings Highway South to better accommodate traffic. Buildings facing Post Road would be restricted to just two or three stories in Baywater’s plan, while those on Corbin Drive and the newly planned streets would range from three to five stories, or roughly 55 to 75 feet in height; the tallest building that Baywater initially proposed was 85 feet. But Darien’s zoning regulations allow only a maximum height of three stories or 45 feet. Still, Baywater Properties founder R. David Genovese was sanguine about the project’s reception in Darien. “We’ve received hundreds of letters of support and only two or three negative, from people con» » Darien, page 5


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