BENNINGTON, Vt. — A downtown Bennington, Vermont, site marked for a major redevelopment initiative has been sold.

The Bennington Banner reports ( ) the Putnam Block project was purchased on Monday by the Bennington County Industrial Corp. for $2 million. Bennington Redevelopment Group, LLC is expected to complete the project.

The four-acre site will be transformed into a mixed-use urban area with a medical office building, housing, restaurants and retail space.

Construction plans have been divided into two phases. The bidding process for the first phase of the project is expected to start this fall.

Grants from the Vermont Community Development Program along with state and federal programs have been secured for the redevelopment project.

Information from: The Times Argus,

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