Re-imagining Havemeyer as a cultural center with hotel, theater & restaurant.

On May 13, a town committee reviewed six proposals for redeveloping the Havemeyer Building. The Romanesque building, dating back to 1892, on 2.7 acres at 290 Greenwich Avenue, has been home of the Greenwich Board of Education staff for 77 years. Discussions go back over 20 years about how to re-purpose the building and property.

The Proposal. The plan is to fully restore the historic Havemeyer building as a 70-plus room boutique hotel with rooftop bar, restaurant and community cultural destination, including restoring its 300-seat auditorium. The proposal also includes construction of a new second building on the property that would include leased office space for the displaced Board of Education staff (a key negotiating point), two levels of underground parking and residential condominiums.

A public hearing will be held on Wednesday, June 11, from 7pm to 9pm in the Town Hall Meeting Room, 101 Field Point Road and virtually on Zoom. The committee issued a report on May 20 here.

Who is behind the Proposal. The committee is recommending a proposal by Eagle/Peebles. Eagle/Peebles is a 50/50 joint venture of (1) Don Peebles, Jr. of Peebles Corporation (largest black-owned real estate company in U.S.) with affiliate Legacy Real Estate Development firm and (2) Jim Cabrera of Eagle Ventures (Greenwich native behind the Delamar). Architects include David Scott Parker (converted Bush-Holley House into the Greenwich Historical Society) and Granoff (converted Greenwich Post Office into Restoration Hardware). Construction firms include AP Construction (division of Ashforth Company owner of the train station office complex at Greenwich Plaza) and McKissack & McKissack (a minority and women-owned design firm).

It is estimated that the Eagle/Peebles partnership would invest $100 million (using an undisclosed amount of debt) to execute the plan. The partnership would lease the lot to the town for an upfront payment of $10.5 million and pay about $650,000 in annual property taxes. The full business plan is yet to be analyzed.

Between the Lines: If accepted, this project is estimated to take four years until anyone occupies the space. After debating this project over 20 years, what's another four years?

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