Wheaton ends developer agreement

A long-pursued plan to build a 198-unit condominium development near downtown Wheaton has been on life support for some time now, but city officials Monday officially pulled the plug.

At a meeting, the city council formally ended an agreement with Norwood-Wheaton LLC to develop the now-empty site at the northeast corner of Front and Cross streets because they say the company failed to meet specific deadlines for the work. The company’s failure is a blow to the city’s long-held philosophy that high- volume residences are needed to support downtown commerce.

All that sits on the site now is a For Sale sign.

“Ultimately, the original plan was to increase residential development around the economic corridor,” said City Manager Don Rose.

After agreeing to meet the deadlines regarding the Wescott Crossing development, the company defaulted on a bank loan. As a result, it failed to meet those deadlines.

With little work being done on the highly visible site downtown, just south of the Wheaton Public Library, Monday’s action was more of a formal recognition of what most in town already knew: that the development was a dead deal.

Rose said the site still offers flexibility, even if it is now vacant.

“The good thing is that (the property) is a whole square block,” he said. “When it was originally purchased, there were four buildings on that property.”

City officials say there has been new interest in the property and officially terminating the agreement will help in possible future negotiations.