Work to Begin on Bennington’s Putnam Block Project
The Putnam Redevelopment Project, of which the College is a major partner, closed a deal on June 14. Construction has officially begun on phase one of the project.
From VT Digger:
Work is scheduled to start this week on a $56 million redevelopment project at the Putnam Hotel in downtown Bennington.
About 20 different lenders and other economic partners in the Putnam project closed on financing on Friday, said project leaders. A group in Bennington had worked for four years to put together the complex project, which involves buildings – some unoccupied for decades – on a four-acre site.
Backers see the redevelopment as a catalyst for reviving Bennington’s downtown area.