A plan to construct an Ion Financial institution department and two retail storefronts on the former web site of Renaldo’s Pizza is sweet information for that outstanding Route 10 location in Southington. It could even be a constructive signal that there will probably be post-pandemic prosperity.
Because the pizza restaurant was broken in a fireplace in 2016, the property at 378 N. Fundamental St. has been vacant. Whereas Renaldo’s relocated to Queen Avenue, the previous location become an eyesore, in keeping with Financial Growth Coordinator Lou Perillo, who spoke with Document-Journal reporter Devin Leith-Yessian in regards to the scenario.
Perillo stated, “We’re extraordinarily happy to study {that a} brick and mortar financial institution is coming into our market.”
The Inland Wetlands and Watercourses Fee has already permitted a web site plan for the mission and now the mission has progressed to the Planning and Zoning Fee. The brand new improvement would exchange two current buildings on the positioning with a 4,000 sq. foot constructing. The financial institution would take up half that area and face the road with two retail storefronts behind it.
Perillo supplied perception into why he feels the Ion Financial institution plan, whereas welcome by itself deserves, has a lot wider implications.
“There is a multiplier impact with new development and often banks construct a better per sq. foot value constructing, so it is one thing that usually form of ups the sport if you’ll and places extra strain on like companies to form of gown up their place as properly,” Perillo stated.
Given the pandemic and the disruptions the banking business was going through already, Perillo stated Ion Financial institution’s determination to construct a brand new department in city exhibits its confidence within the native economic system.
Ion Financial institution, primarily based in Naugatuck, has 20 areas within the state. This new department workplace will probably be its first foray into Southington.
Turning an eyesore into an financial driver is a situation that deservedly provides rise to optimism. Even a tough spot has potential and alter is feasible.
