The Preston Board of Selectmen terminated a development agreement today with Utopia Studios of New York, which proposed the $1.6 billion project including movie studios, a climate-controlled theme park, hotels and an arts school on the former Norwich Hospital property.
Preston officials said Utopia failed to meet numerous deadlines, particularly for a payment of more than $56 million.
Utopia Studios says they're good for the money. They swear, they put it in the mailbox yesterday. Seriously, the Town of Preston should check their mail right now. Utopia Stuidos bets it's in there.
I think at this point that Preston is absolutely right to walk away from this one and never look back. It was a nice opportunity, but it always seemed too good to be true.
"Preston Pulls Plug On Massive Project." Associated Press 22 November, 2006.