Plan to redevelop Curry Road plaza moving slowly

PHOTOGRAPHER: Justin Mason

Plans to redevelop the dilapidated Curry Road Shopping Center may be moving ahead slowly, but they’re still progressing, according to a builder involved in the deal.

Dan Polito, a principal in Polito-Columbia Properties LLC., said a deal is in the works with the town, the Golub Corp. and Trustco Bank that should soon allow his company to move forward with plans to build 94 two-bedroom condominiums on the property. He said a draft of the purchase contract was sent to Golub for review last week and is now being reviewed.

“It is progressing slowly, but it is progressing,” he said.

Part of the delay lies in the complexity of a deal involving three businesses and the town, which technically owns the property. All but an acre of the original 12-acre parcel was originally donated to the town by Golub after the company was unsuccessful in securing tenants for the site.

Polito-Columbia is now negotiating for the final slice of land, while also seeking to relocate Golub’s print shop, the only tenant remaining in the largest building on the property. Simultaneously, Polito said his company is negotiating a deal to move the Trustco branch, which has a lease for space in the plaza’s smaller building until 2011.

The project includes a plan to move the bank branch into a new retail building that would be built facing Curry Road. Polito said the bank has been receptive to the proposed relocation.

“They’re very interested in moving to the front of this parcel,” he said.