TD Bank Drops Plans For Sunoco Site

TD Bank is not saying specifically why it’s decided not to move forward with a proposal to put up a branch on the Sunoco site at First Avenue and Main Street, but the pull back caught at least some officials off guard.

Town Planner Lisa Bourbonais said the announcement definitely caught her by surprise. Representatives of the property owner and the bank made an extensive presentation for the site before the Planning Board earlier this month, which would have involved two buildings.  

However the proposal was only at the pre-application stage.

Town Council President Michael Isaacs was also caught short by the announcement. As far as he knew the project was on track.

Town Manager Bill Sequino said he heard the news from the town’s building inspector, John Hoyle.

“I’m not sure we need another bank,” he said Friday. But, he said, “It was better than a drug store,” referring to an earlier proposal to put a Walgreens on the site.

When contacted about the change of mind by TD Bank, a representative for the property owners had no comment.

In response to a request from Patch to TD Bank for a comment on their decision, the following statement was e-mailed by Jimmy Hernandez, associate Vice President for Public Relations.

“At any give time, and throughout our footprint, TD Bank considers dozens of sites for possible development. Of those, some, but not all, may come to fruition for a variety of reasons.”

Nonetheless, Hernandez wrote that TD Bank was still committed to the area. “Our Rhode Island expansion plans include opening a TD Bank store in East Greenwich,” he wrote.

Lisa Bourbonnais said she thought a bank would work on that site, which presents challenges to would-be developers because it is not a big site and because it is bounded by streets on every side.

"Access is going to be everyone’s concern. In terms of actual usage, I thought the bank was a good use,” she said, noting that bank hours are limited and that banks tend to take good care of their property.

On Friday, Bourbonnais echoed what members of the Planning Board had said at that earlier meeting, that the site serves as a gateway to Main Street.

“You want something that looks nice,” she said. “It would have been a nice gateway building.”