BURLINGTON — Plans to demolish the vacant Bove’s Restaurant on Pearl Street and replace it with new housing have been suspended, the building’s owners said Monday, leaving the city’s list of problematic properties unchanged and the structure back on the market.
Proposed project shelved amid rising costs, market concerns
The Bove family had proposed tearing down the long-empty restaurant and building a six-story structure with 25 housing units and ground-floor retail. The development would have accepted Section 8 housing vouchers, according to the owners. But Mark Bove told reporters the family has pulled the permits and put the plan on hold because of several economic and market considerations.
"We actually pulled our permits for right now because of multiple factors that are not in our best interest to do something on that property now," Bove said. He cited high construction costs, elevated interest rates and recent reports of residents leaving the state as reasons to reconsider the timing of a major redevelopment.
City concerned about blight, but demolition is limited
The historic building, which has been vacant for years, is listed by the city as one of its most noncompliant properties because of vandalism and broken windows. City official Bill Ward said the building’s current condition cannot remain, but a Burlington ordinance restricts demolition of historic structures unless a redevelopment plan is in place.
"It’s one of our top 10 most non-compliant properties because it can’t stay in the current condition," Ward said. "We definitely need a redevelopment there and not just a torn-down building in the middle of a pretty dense area in the city."
That restriction means the Bove family cannot simply raze the structure to eliminate the eyesore unless a new project is ready to move forward. With their redevelopment proposal on pause and no other plan yet presented to the city, the property is again being marketed for sale.
Owners weigh timing as competing projects rise
Owners said one factor in the decision was the recent increase in housing supply around Chittenden County, where several new projects are underway. Higher-than-usual interest rates, they said, make it difficult to set rents at levels that would cover what they called "astronomical" construction expenses.
- Planned building height: Six stories
- Planned units: 25 apartments
- Affordability: Section 8 vouchers accepted
- Current status: Permits pulled; property listed for sale
Residents and preservation advocates have conflicting priorities for the site. Some lament the building’s decay and want it removed or rehabilitated; others emphasize the value of preserving historic fabric in downtown Burlington. Ward said he would prefer restoration tied to a concrete redevelopment proposal rather than an isolated demolition.
| Issue | Current status |
|---|---|
| Redevelopment proposal | On hold; permits withdrawn |
| Historic-demolition rule | Requires redevelopment plan for teardown |
| Property sale | Listed on the market |
What comes next
With no immediate redevelopment plan, the building remains an active concern for city code enforcement and neighbors. The property owners said they remain open to returning to redevelopment in the future when market conditions improve, but for now they are awaiting better interest-rate environments and stronger demand before committing to construction.
The pause leaves multiple questions for downtown planners: whether another developer will step in with a different proposal, whether the building can be stabilized or restored in the meantime, and how the city will address the ongoing public-safety and visual concerns tied to the vacant structure.
Burlington officials said they will continue to monitor the property and enforce codes, but the fate of the old Bove’s — a visible reminder of the city’s housing crunch and preservation debates — will depend on shifts in the development market as much as on local policy.
