The development will be a mix of office and retail developmenton Main and Water streets in downtown Norwich. The project willentail a new office building featuring 77,887 sf of class A officespace and 5,898 sf of retail space. The venture will also includean enclosed parking facility. A separate, 129-space, two-levelparking complex will also be constructed across the street as partof the project.

At the ceremony, which was held at the Howard T. Brown MemorialPark, Connecticut Governor John G. Rowland said, "The start of theMercantile Exchange project marks an important step forward inrevitalizing historic downtown Norwich and I believe marks thebeginning of an economic development renaissance in the RoseCity."

The Norwich Community Development Corp. is renting the buildingto the Mashantucket Pequot Tribal Nation as master tenant, whichhas already signed a 20-year lease for the entire complex. Underthe terms of its lease, the Tribal Nation has the right to rent outor sublease to additional tenants any and all portions of thebuilding. The Norwich Community Development Corp. will be managingthe project.