There is a plan to transform a parking lot on Burlington's waterfront into a multi-million dollar development. The eight million-dollar proposal for the site, includes an inn, two movie theatres and a restaurant. The developer hopes to create a showcase for the arts, which will draw a lot of foot traffic downtown.

The main street landing company is already redeveloping union station -- the future transportation hub on the waterfront. This 8-million dollar project continues its vision of the waterfront as a bustling center of activity. The main street landing company has owned this property between battery and lake streets since 1982 -- it's a parking lot now -- but they've proposed an 87-thousand square foot complex -- with a two-screen independent cinema, a black box theater -- and an inn. It also includes some office and retail space -- small shops and a restaurant -- and it's designed to get more people down to the waterfront -- even in the winter months.

Melinda Moulton of Main Street Landing Co. says, "people wanna have a place to come and if they can come and see a movie or a theater production or come to the inn or come to a pizza place and sit and look out on the water in the middle of February, it's gonna get people down here and I think that right now the waterfront is extremely underutilized."

The Burlington planning commission is reviewing the project, and it still needs act 250 approval. If it does win approval, Moulton expects groundbreaking this fall. So far, Stephanie, we've heard nothing but positive reactions to this proposal, especially from the arts community. Public hearings are part of the planning and review process and those are expected in April. To ease any parking crunch, there is a 60 space underground garage in the plans.