Progress on several fronts

#mvhsdowntown update:

  • All the project’s financing has now been secured. MVHS has obtained a package of financing to supplement the state’s $300 million, to ensure that the $480 million project cost is covered.
  • More than half of the project footprint’s 35 property owners have come to terms with MVHS. Nineteen have completed or about to complete purchase option agreements.  Nine others are still negotiating the sale of their properties. Six owners have not responded to MVHS communications or have said they are not interested in any agreement with MVHS.
  • Required environmental site review continues. The process is expected to be completed this fall.

The site will be secured and prepared for construction in early-to-mid 2019, and groundbreaking will occur in late 2019.

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