Worcester Telegram
Worcester: Another extension given to CitySquare developers
WORCESTER --- On the eve of the two-year anniversary when the site plan for the $563 million CitySquare redevelopment project was approved, the Planning Board last night voted to extend that approval for yet another year. It was the second such extension the board has voted for the project. The general development agreement reached by the city and the developer, Berkeley Investments calls for enough commitment of tenant space to provide tax revenues to pay for t,he bonds the city will issue for the DIF disbursements. Earlier this year, city officials said Berkeley Investments had about 150,000 feet of space committed in the first specialty office building of 260,000 square feet needed to trigger a release of funds.