But even before the proposed mixed-use project gets its first hearing before city planners, Mayor Ben Blake said he is opposed to the plan and that it “would be a terrible idea” if approved. Centennial, which operates and develops retail and mixed-use centers across the country, has notified city officials that it wants to build up to 300 luxury rental units on the southeast corner of the property, near Old Gate Lane. Steve Levin, who founded Centennial and is the company’s chief executive officer, said the entire project would be done with private capital and they wouldn’t be seeking any incentives from the city or state. He said the project would create hundreds of new jobs and, once completed, would generate an additional $1.25 million in real and personal property tax revenues annually. Donald Klepper-Smith, chief economist and director of research for New Haven-based DataCore Partners, said Centennial’s project has some things going for it, but still is inherently risky given current economic turbulence.