New Uptown 240 development agreement pushes public improvements deadline to October 2022
Construction of Uptown 240 in Dillon has sat stagnant for over a year. The 80-unit luxury condominium development on Lake Dillon Drive broke ground in summer 2019 and progress stopped in April 2020, when the project lost its financial backing amid the COVID-19 pandemic.
When a Sept. 30 deadline to complete various public improvements — such as repairs to sidewalks and pavement on Lake Dillon Drive and West Buffalo Street — passed, the town issued a default notice to the developer Oct. 1 and filed a lien on the property to secure payment of outstanding fees.
At a special meeting Tuesday, Nov. 23, Dillon Town Council approved a second amendment to the Uptown 240 agreement that moves the improvement deadline to Oct. 31, 2022. The town’s default notice was also withdrawn.
The town’s staff summary states that Uptown 240 President Danilo Ottoborgo anticipates closing on a bridge loan soon as well as a construction loan in the first quarter of 2022. Ottoborgo must notify the town within seven days if the bridge loan doesn’t close by Dec. 15 and has to pay the liens within 10 days of receiving the bridge loan.
“This is kind of a difficult thing for all of us to go through, and I’m just hoping here that Danilo and his group can get through this hump, so to speak, and move on,” council member Brad Bailey said. “… We’re here to get it done. Let’s just all hope on that.”
According to the agreement, the town has the right to remove all construction materials and related items from town-owned rights-of-way if the bridge loan isn’t closed by Dec. 31. A plan to remove the crane from the site will also be provided to the town if the loan isn’t closed, or the crane will be removed if construction hasn’t resumed by Aug. 30, 2022.
Council member Renee Imamura wondered why the crane would potentially stay until August if construction hadn’t resumed. Town Attorney Nick Cotton-Baez said the town wanted to give Ottoborgo a buffer and that the crane would likely be gone much sooner if there are no loans.
“We tied it to construction instead because we’re hopeful that Danilo gets his project underway,” Cotton-Baez said. “And the reality of it is if that bridge loan doesn’t close, then the crane is probably going to be out of there pretty quick.”
The agreement states that construction on the development, including the public improvements, will resume as soon as possible after receiving the loans and when weather permits.
If completed, the complex will feature one-, two- and three-bedroom units, a two-story heated parking garage, hot tubs, a yoga studio, gym, conference room and more. There will also be a restaurant and retail. Adriano’s Bistro & Deli, a restaurant that was owned by Ottoborgo’s family, previously occupied the space.
After the amendment was approved, Mayor Carolyn Skowyra thanked Ottoborgo for working with the town and said she hopes he will continue to work closely with them as things progress. Ottoborgo thanked council in return.
“Thank you all so much for your patience and willingness to help us get through this,” he said, later adding that it was 13 years ago when he first gave a presentation to Town Council. “It really means a lot. It means everything.”
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