Washington Trust's commercial real estate group provided $6.9 million in construction financing to Storrs Center Alliance, LLC for the construction of a 32,175 s/f Price Chopper Supermarket and a 5,000 s/f stand-alone retail building. The property is located in downtown across from the University of Connecticut and is the latest phase of the Storrs Center project being developed by LeylandAlliance, LLC.
"The property has great market potential and is located in an especially attractive, high-traffic area near the University of Connecticut," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
Leyland Alliance, LLC is a real estate development company focused on the creation of mixed-used sustainable neighborhoods founded upon the principles of New Urbanism.