A plan to construct an Ion Financial institution department and two retail storefronts on the former web site of Renaldo’s Pizza is nice information for that distinguished Route 10 location in Southington. It could even be a optimistic signal that there will probably be post-pandemic prosperity.
Because the pizza restaurant was broken in a hearth in 2016, the property at 378 N. Fundamental St. has been vacant. Whereas Renaldo’s relocated to Queen Avenue, the previous location was an eyesore, in line with Financial Growth Coordinator Lou Perillo, who spoke with Document-Journal reporter Devin Leith-Yessian in regards to the state of affairs.
Perillo mentioned, “We’re extraordinarily happy to be taught {that a} brick and mortar financial institution is coming into our market.”
The Inland Wetlands and Watercourses Fee has already accepted a web site plan for the challenge and now the challenge has progressed to the Planning and Zoning Fee. The brand new growth would exchange two current buildings on the positioning with a 4,000 sq. foot constructing. The financial institution would take up half that area and face the road with two retail storefronts behind it.
Perillo supplied perception into why he feels the Ion Financial institution plan, whereas welcome by itself deserves, has a lot wider implications.
“There is a multiplier impact with new development and normally banks construct the next per sq. foot value constructing, so it is one thing that usually sort of ups the sport if you’ll and places extra strain on like companies to sort of gown up their place as effectively,” Perillo mentioned.
Given the pandemic and the disruptions the banking business was dealing with already, Perillo mentioned Ion Financial institution’s resolution to construct a brand new department in city exhibits its confidence within the native economic system.
Ion Financial institution, based mostly in Naugatuck, has 20 places within the state. This new department workplace will probably be its first foray into Southington.
Turning an eyesore into an financial driver is a state of affairs that deservedly provides rise to optimism. Even a tough spot has potential and alter is feasible.
