| Progress on the former River Inn
700 State Street
DevelopSpringfield purchased the former River Inn in February, a building which had long been in disrepair and a blight on the neighborhood and the State Street corridor.
A ceremonial demolition event on May 9, marked the beginning of the redevelopment process which includes the demolition of the building and site preparation to market the site to an appropriate end user or developer.
In addition to the State Street property, the City of Springfield recently approved the sale of two abutting lots on Thompson Street to DevelopSpringfield. Our goal is to redevelop the properties together as a single site for commercial use appropriate for the area. The now larger site affords adequate space for a viable commercial establishment with appropriate space for parking and landscaping.
While an end use has not yet been established, market research has indicated that there is interest and viability to the prospect of a casual sit-down restaurant as they are currently limited in the Mason Square area and would provide a positive economic impact to the neighborhood and the city as a whole. Such a use would spur employment opportunities and likely stimulate additional private investment and redevelopment in the area.
DevelopSpringfield has invested almost $500,000 so far in property acquisition, demolition costs, back taxes paid to the city and back water and sewer fees. Our goal is to ensure appropriate redevelopment of the site to make a positive impact on our economy. MassDevelopment provided a $143,000 grant to assist in remediation of asbestos and demolition of the building.
Click here for project highlights and view photos of the demolition progress.