240 Sargent Drive, New Haven
Chris Nolan of H. Pearce Commercial Real Estate recently brokered a lease at 240 Sargent Drive in New Haven.
Nolan represented the landlord of the Sargent Drive property, EJF LLC, in the leasing of 6,000 square feet of warehouse/distribution/office space. The tenant, GoFor Services, which is based in New Haven, executed the long-term lease. It will be used as the company’s corporate headquarters and main distribution/warehouse facility.
Joel Nesson of Press/Cuozzo Commercial represented GoFor Services in the transaction. GoFor Services is a delivery-services company that also maintains a location in Bridgeport.
H. Pearce Commercial Real Estate specializes in Connecticut’s central, south-central, and Shoreline markets. The firm operates offices in North Haven and Rocky Hill.
Ground Broken at Apartments
TD Banknorth Connecticut recently joined the Stamford Housing Authority at a groundbreaking ceremony marking construction of the Post House Apartments, a service-enriched apartment community created for low- and very low-income households.
TD Banknorth announced it will provide $2.625 million in financing to the Housing Authority for construction of the apartment facility, a 6-story building containing 60 units at 40 Clinton Drive.
“Working with local businesses and organizations to help create affordable housing is part of TD Banknorth’s mission in Connecticut,” said John J. Patrick Jr., president and chief executive officer of TD Banknorth Connecticut. Patrick was joined at the groundbreaking ceremony by Richard D. Fox, executive director of the Stamford Housing Authority.
TD Banknorth’s construction loan will enable the Housing Authority to build 60 one-bedroom units. The construction of Post House Apartments will commence immediately and the building is expected to be available for occupancy by March of 2008.
Post House Apartments is the third phase of the Fairfield Court HOPE VI revitalization effort, located in Stamford’s Mill River-Downtown district. The Stamford Housing Authority received a grant of nearly $19.6 million in HOPE VI funding from the U.S. Department of Housing and Urban Development to effect the revitalization of Fairfield Court, a public housing complex built in 1936, and its surrounding West Side neighborhood.
The Fairfield Court revitalization plan will produce a total of 275 housing units by replacing the existing 144 low-income units on the basis of one-for-one and creating 131 new affordable rental, market-rate rental and homeownership units. It will incorporate supportive services and occupational initiatives that will increase the economic self-sufficiency and independence of residents.
In line with its efforts to support affordable housing in the state, TD Banknorth recently awarded a $30,000 grant to the national nonprofit organization Local Initiatives Support Corp. in support of affordable housing initiatives in Hartford and Fairfield counties. In addition, in November TD Banknorth Connecticut will announce the winners of its “Housing For Everyone” grant competition, which will award $50,000 to the best proposals for affordable housing in Fairfield County.
