Vt. Community Foundation gives Park St. School project $300,000

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Springfield Regional Development Corp.  announced that it has received a $300,000 investment from the Vermont Community Foundation to support ongoing pre-development work at the former Park Street School in Springfield.

SRDC Executive Director Bob Flint said that the funds would help to complete architectural and engineering work for redevelopment of the former school property to house the Black River Innovation Campus as well as maintain current community uses. The project is currently estimated to cost $23 million.

“We are very appreciative of the strong commitment by the Vermont Community Foundation for this downtown community redevelopment project,” Flint said.

Dan Smith, president and CEO of the Vermont Community Foundation, said that the funding represents the Foundation’s ongoing support of the BRIC project and its importance to the revitalization of Springfield.

“We want to reinvigorate downtowns and create opportunity for community members through our investments.  Park Street School will support entrepreneurs and new business ventures in Springfield, and we’re excited to see what the future holds,” says Smith.

Flint said that SRDC is working to pursue funding for the full redevelopment project.