The former Friendly’s building at ShopRite Square could come down soon in favor of increased parking and a smaller building toward Nott Street East, town Supervisor Joe Landry said Wednesday.
Inland Mortgage Capital Corporation of Chicago, known as IMCC St. James LLC., is under contract to buy the parcel of land on which the one-time restaurant sits and is expected to close the deal soon, Landry said.
The company has expressed plans to tear down a building that is now out of place in the revamped former St. James Square, Landry said. In its place, according to the plan, will be parking for businesses at the square and better flow of traffic from the ShopRite side to the Balltown Road side.
A small building would then be built along Nott Street East. Inland Mortgage is in talks with several tenants for the new building, Landry said.
The removal of the Friendly’s building could also pave the way for more leases in the main building. Officials have said the Friendly’s building has been a barrier to businesses locating there.
With the property still yet to close, no formal plans have been submitted to the town, Landry noted. Those are expected to be submitted as early as next month.
A special use permit would be needed from the town, with approvals from the Planning Board and Town Board needed before the project could go forward.
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