02/27/08 - Years Ago Malcolm Pray Warned Greenwich That Pickwick Plaza Would Cause Gridlock. No One Listened. Now Another Traffic Disaster Is Comming.

Greenwich lawyer and real estate developer Joseph Tranfo poses with a rendering of a hotel proposed for Benedict Place and Lewis Street.
(Bob Luckey Jr./Staff photo)

Developer's plan hinges on leasing town lot

Joseph A. Tranfo knows he is risking a good part of his family fortune on a $100 million downtown Greenwich redevelopment project that depends on getting access to a piece of town land. But the real estate lawyer-turned-developer said the risk is worth it because of what the project promises to achieve.

"There's an opportunity to create a community here," Tranfo said.

The project is to build a multistory complex of offices, a hotel, restaurant, underground parking and dozens of residences on 2 acres of prime real estate between Greenwich Avenue and Lewis and West Elm streets.

The catch, however, is that Tranfo must first acquire the right to lease from the town a 1.3-acre municipal parking lot on Benedict Place to get enough room for his plans.

Tranfo, who has already spent more than $7 million acquiring many of the other pieces he needs for the project, recently presented his ideas to the Board of Selectmen.....

... In addition to the town's financial commitment to the project, Selectman Lin Lavery said she is concerned about the four-story height of the proposed structures.

"It looks very big," she said. "I need to look at it more."

Lavery said she wonders about the proposed density and whether the new development would attract transient residents who only live there part-time.

"It might be like the Plaza Hotel in New York or the Greenwich Gables where people purchase high-end condos and don't necessarily become community members," she said....

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