Redevelopment of Goshen Retail Eyesore to Move Forward
Real Estate In-Depth | April 2019
GOSHEN—The Goshen Planning Board on March 26 voted unanimously to give Greenwich, CT-based development firm Fareri Associates, LP, conditional site plan approval to move forward with its proposal for the new Goshen Plaza.
“We’d like to thank the Village of Goshen Planning Board for its confidence in, and enthusiasm for, this project, as well as the many community members we’ve met who share our team’s excitement over bringing this long-awaited project to life,” said Fareri Associates representative Neil DeLuca. “The supermarket Goshen has wanted is finally on its way, along with so much more this community is going to love.”
Fareri Associates’ plan includes a complete overhaul of the 13.7-acre property between Matthews St. and Clowes Ave. in Goshen, turning it into a revitalized retail hub for the community. The current 58,000 square feet of underutilized retail space will be increased to more than 107,000 square feet including two anchor stores, four additional retail-ready buildings and two retail-ready pad sites. The development team is already in negotiations with two anchor retailers, including a top brand supermarket and CVS pharmacy.
The current parking lot will be completely removed and replaced with a brand new one. New lighting, striping and signage will be installed. New entrances and exits will be on Matthews St. and Clowes Ave., with separate access points for deliveries and utility services. The plan also includes modernized utilities and a new stormwater collection system. All of this will be done without expanding the property’s current footprint. The completed Goshen Plaza is projected to increase the number of total jobs—including full- and part-time equivalents—at the site from its current 47 to 238.
Construction is expected to commence by May or June of this year. Based on that date, Fareri Associates expects the grand opening of the CVS Pharmacy to happen in the winter of 2020 or spring 2021, and the grand opening of the new supermarket and completed plaza in fall or winter of 2021. The construction plan allows for the current CVS pharmacy to remain operational until the new one opens—a standalone CVS with drive-thru service. This was done to ensure no interruption of local prescription service to those community members who utilize the CVS for their health care needs.
Interest in the new spaces has already been brisk from varied retail suitors, and Fareri Associates has hired Pyramid Brokerage Company to field inquiries and identify tenants for the new Goshen Plaza. Pyramid Brokerage Company is part of the Cushman & Wakefield Alliance, a fully integrated extension of the C&W global platform.
The Goshen Diner, which is adjacent to Goshen Plaza, is not part of the redevelopment project.