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Report: Warehouse or Biotech Uses Planned after $750K Sale

June 12, 2020 | Reprints | Unlock Link | Print

Image courtesy of Google Maps

The new owners of a vacant lot near New Haven’s Mill River are planning to redevelop it into either biotech or warehouse uses.

An affiliate of Elm City Industrial Properties Inc. bought the property at 50 Ives Place for $750,000 according to public records. The 4.4-acre site was appraised at $649,000.

Mayor Justin Elicker said the city and Elm City had been working “to create jobs in a range of potential warehousing/distribution, e-commerce, last-mile fulfillment, data center, biotech, and manufacturing uses,” The New Haven Independent reported.

No firm plan or redevelopment timeline has been announced.