Pawcatuck theater developer proposes expansion of $80M project

In a new application to the Planning and Zoning Commission, READCO of Old Lyme and its development partner TRIO have proposed a revision of the master plan for the former Hoyt’s/Regal Cinema property on Route 2. READCO plans to expand its Pawcatuck theater redevelopment project by adding six adjacent properties, 108 more apartments and demolishing the theater and bank buildings on the site. The commission unanimously approved a zone change to Neighborhood Design District for the property in February, which allowed the developer to move forward on a project to repurpose the property as a recreational pickleball center, 10,000 square feet of commercial space and 124 one- and two-bedroom apartments. The change to a floating zone Neighborhood Design District provides the commission with a great deal of discretion about various aspects of the project, which Browning said was anticipated to cost between $70 million and $80 million.

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