John C. DiIorio, owner of 1st Alliance Lending LLC, a specialty mortgage company, wants to relocate his company from East Hartford to downtown Rockville, a CMSC member community. But rather than just move, Mr. DiIorio is proposing a $120 million redevelopment of the downtown, reports the Hartford Courant. He’s doing so both to satisfy his company’s long-term growth (he expects his company will grow to 1,100 by 2020) and to play a pivotal role in changing a downtown that has faced decades of decline.
Although the proposal is in its earliest stages, the redevelopment would target ten acres in downtown Rockville (an old industrial section of Vernon), an area currently occupied by parking lots and aging shopping plazas. In its place, Mr. DiIorio envisions a system of buildings with office space over street-level shops and restaurants. Instead of surface lots, greenspaces would cover two underground parking garages.