By Kristie Schiefer
Assistant News Editor
With an original unveiling date of fall 2012, dirt remains untouched on an empty lot where the Bonaventure Square will stand.
The Kinley Corporation took the role as lead developer in July 2012, setting a new date to break ground and developing plans for proceeding with the project.
“Construction of Phase I is planned to begin in the spring of 2013 and will take approximately 18 months to complete,” Brenda McGee, senior vice president for finance and administration, said.
McGee also explained Kinley Corp. has been the project’s construction company during the past several years, and as a real estate developer it is a normal role to take on.
“Kinley Corp. is now focused on completing leases for the major tenants and securing financing for the project,” McGee said.
The slated completion date was delayed due to the excess time required for comprehensive regulatory guidelines and other steps that had to be completed prior to the start of construction. An original municipal approval in October 2011 included 26 contingent conditions to be met as well as securing financing for the project, McGee explained.
However, Kinley Corp. met the remaining municipal approval in August 2012.
“The proposed development is very complex and the largest development in the town of Allegany [ever] to my knowledge,” McGee said.
Now that all municipal and other regulatory approvals have been achieved, McGee doesn’t foresee any more hurdles to complete the project.
“Kinley Corp. is actively working to complete the leases and financing for the project and it is optimistic it will accomplish both in the time frame it has estimated,” McGee said.
The plans include a hotel, entertainment venue with a restaurant and sports lounge as well as a retail professional space.
