Peter Pan and the city plan to announce Tuesday the bus lines' deal to use Springfield Union Station as its Springfield hub Watch video
SPRINGFIELD -- Moving Peter Pan Bus Lines' Springfield hub into Union Station and out of the company-owned bus facility at 1776 Main St. it's used since 1969 is good for both the company and the community, Peter A. Picknelly, chairman & CEO of Peter Pan, said Monday night.
"We will bring life to that building," Picknelly said in an interview with The Republican. "We had to make a business decision, but we are also good corporate citizens."
A multi-modal transit center, which is what the redeveloped Union Station was designed to be, won't work without the intercity bus service -- Peter Pan -- that brings "by far" more passengers into Springfield than rail, he said.
Peter Pan has hundreds of departures and arrivals each day from Springfield, Picknelly said. The Springfield-based company services 100 cities in the Northeast and all can be reached from Springfield.
The city announced Monday that it and Peter Pan had reached an agreement. A formal press conference is set for Tuesday morning with U.S. Rep. Richard E. Neal, D-Springfield, who spearheaded the soon-to-be-completed $94 million rehab of the mammoth station built in 1926 but largely abandoned since 1973. A grand reopening is scheduled for late June.
Neither Picknelly nor the city discussed financial terms of the deal Monday. But the contract becomes public once acted upon by the Springfield Redevelopment Authority, which owns Union Station.
Picknelly said he'd like to have Peter Pan moved into Union Station as soon as possible after it reopens. But there is a lot of logistical work to do to make that happen.
He said Peter Pan is still in discussions about also moving Peter Pan's corporate offices into Union Station either on a temporary basis or for the long term. But that office space deal has not been signed.
Moving bus operations out of the current station clears the way for that property to be redeveloped. Picknelly said he doesn't have a lot of details to share now about that planned redevelopment of 1776 Main St. except to say he's talking with prospects.
"We don't want to see another empty building on Main Street," Picknelly said. "We are going to re-purpose it for another development. I think all the pieces are coming together for the redevelopment of our downtown."
That includes 31 Elm St. on Springfield's Court Square, he said.
"We are close to having an announcement there," he said.
The long-vacant six-floor former hotel at 31 Elm is owned by the Springfield Redevelopment Authority, which had named Picknelly and his real estate firm, the OPAL Real Estate Group, as the preferred developer.
In March, MGM Springfield president Mike Mathis said 31 Elm St. is the priority site for the casino to create 54 market rate apartments.
MGM Springfield is required to build market-rate hosing downtown in its host community agreement with the city.