June 20, 2016
Holliday Fenoglio Fowler, L.P. (HFF) is taking on a 1.25-million-square-foot mixed-use redevelopment assignment in downtown Burlington, VT. The capital intermediary is working to secure roughly $200-million in debt and equity financing needed to redevelop Burlington Town Center, a shopping center on the Church St. pedestrian plaza.
New York-based Devonwood Investors spent more than two years engaging in a public process to reimagine a center originally built more than 40 years ago. The developer envisions creating an irreplaceable asset with 325,000 square feet of office, 274 residential units, and 235,000 square feet of retail.
The project is envisaged to reinvigorate Burlington’s downtown shopping experience and introduce a true urban mixed-use “live-work-play” environment that’s a vibrant centerpiece of the community.
HFF’s Coleman Benedict and Porter Terry represent the developer.