The developer who plans to revamp the former site reported progress to Cuyahoga Falls City Council Monday night to clear the air of rumors that the project has stalled.
Stark Enterprises Chief Operating Officer Steve Rubin said the company is now in the process of negotiating lease documents and letters of intent for 12 to 13 tenants at Portage Crossing. As for the north and south anchor tenants for the commerce and community center, one is in leasing negotiations, while the other has only submitted its letter of intent.
Rubin said the public will soon find out which shops and businesses plan to move in.
“Our goal is to make announcements about our tenants roster not later than Labor Day,” Rubin said. “We still are hopeful of achieving a fall or probably later fall ground breaking, it could still slip till the spring, but we haven’t given up on the fall yet and we’re still working on that as active possibility.”
Rubin said its important for Stark Enterprises to keep the names of the companies close to vest until the end of the summer.
“The tenants are very, very, very protective of their interest until such time that they have a final lease signed,” he said. “Our goal is to have enough of a mix that we have something for everybody.”
After seven or eight have officially signed on, that’s when Rubin said groundbreaking details would then get underway.
While it’s hoped groundbreaking could take place in the late fall, Rubin told Council he was confident it wouldn’t be any later than the spring of 2012.