Commercial & Industrial
Crystal Mall Sells for Over $9MMay 18, 2023 | Reprints | Unlock Link
A troubled mall in Waterford has sold at auction amid a last-minute flurry of bidding.
UConn Invests in Local Low-Carbon Multifamily Water HeaterMay 17, 2023 | Reprints | Unlock Link
Hillside Ventures, the University of Connecticut’s early-stage sustainability venture fund, announced it’s now a minority investor a local company that’s trying to ramp up production of a boiler for multifamily properties that, it says, can dramatically shrink their carbon footprint.
The City Where Skyscrapers Are Turning to Carbon CaptureBy Cathy Bussewitz | The Associated Press | May 15, 2023 | Reprints | Unlock Link
The goal is to stop that climate-warming gas from entering the atmosphere. And there’s a dire need for reducing emissions from skyscrapers like these in such a vertical city: New York state’s buildings also emit more air pollution than any other state’s.
Construction Finally Starts on Infamous Metro North BridgeMay 15, 2023 | Reprints | Unlock Link
The bridge, originally built in 1896, has been repeatedly stuck in the open position over the years, causing havoc on the busiest rail line in the country.
CT’s Smallest City Finds Room for Housing ProductionBy Steve Adams | Commercial Record Staff | May 12, 2023 | Reprints | Unlock Link
While some Nutmeg State communities fight modest proposals for multifamily housing, the tiny southeastern Connecticut city of New London is welcoming new projects delivering hundreds of apartments to long-neglected parcels.
Stratford Apartments Sold to New Jersey Investor for $23MBy Steve Adams | Commercial Record Staff | May 11, 2023 | Reprints | Unlock Link
A pair of Stratford apartment complexes that traded for $23 million are the first Connecticut acquisition for a New Jersey real estate investor.
Report: West Hartford Apartments Leasing Up QuicklyMay 10, 2023 | Reprints | Unlock Link
The first phase of a West Hartford multifamily development is nearly 50 percent leased less than two weeks after opening.
82 Apartments Coming to Meriden’s Aeolian Music FactoryBy Steve Adams | Commercial Record Staff | May 9, 2023 | Reprints | Unlock Link
Approval of federal tax credits will enable a Boston developer to break ground this fall on the latest phase of a housing conversion at a former musical instrument factory in Meriden.
Two Hotels Pitched for Downtown StamfordMay 9, 2023 | Reprints | Unlock Link
A pair of new hotels are being proposed in downtown Stamford.
Banks Report Tougher Credit Standards in Wake of FailuresBy Christopher Rugaber | The Associated Press | May 9, 2023 | Reprints | Unlock Link
A Federal Reserve report Monday showed that banks raised their lending standards for business and consumer loans in the aftermath of three large bank failures and expect to lift them more this year, a trend that could slow the economy in coming months and increases the risk of a recession.
Waterbury Investor Buys Big Bridgeport Housing PortfolioBy Steve Adams | Commercial Record Staff | May 4, 2023 | Reprints | Unlock Link
A 437-unit apartment portfolio in Bridgeport was acquired by a Waterbury investor for $39.6 million.
Branford Leads CT in March Housing ApprovalsBy James Sanna | May 2, 2023 | Reprints | Unlock Link
Look out, New Haven and Stamford, you’re in danger of being dethroned as the top-producing municipalities in Connecticut when it comes to new housing.
Report: Logistics Network Pushed Modular Builder’s CT RelocationMay 1, 2023 | Reprints | Unlock Link
Fullstack Modular is relocating its U.S. headquarters to Hamden, from New York City’s Brooklyn Naval Yard where it had operated since 2012.
Rhode Island House OKs Office-to-Apartment Conversion IncentivesBy The Associated Press | April 27, 2023 | Reprints | Unlock Link
Rhode Island representatives overwhelmingly approved a bill Tuesday designed to make it easier to convert office buildings, schools, churches, shopping malls, mills and other commercial real estate into housing.
LOs Responded to Changing EnvironmentBy Diane McLaughlin | April 27, 2023 | Reprints | Unlock Link
Even as 2022’s mortgage activity fell from the record levels of the pandemic’s first two years, some of Connecticut’s top loan originators still maintained a demanding pace last year as homebuyers faced rising mortgage rates, economic uncertainties and a limited supply of houses for sale.
NYC Developer Buys Mixed-Use Norwalk Property for $9.3MBy Steve Adams | Commercial Record Staff | April 26, 2023 | Reprints | Unlock Link
A Woodbury real estate investor acquired a Norwalk property including apartments and medical suites leased to Yale New Haven Hospital for $9.3 million.
Developer Plans Retail, 150 Apartments at West Hartford Transit StopBy James Sanna | April 25, 2023 | Reprints | Unlock Link
The owner of the furniture store which replaced the now-shuttered Puritan Furniture business on New Britain Avenue in West Hartford wants to replace his building with a sizable mixed-use structure.
How Other Cities Hope to Boost Resi Conversions DowntownBy Mae Anderson, Ashraf Khalil and Michael Casey | The Associated Press | April 24, 2023 | Reprints | Unlock Link
The conversion push is marked by an emphasis on affordability and serious tax breaks for developers to incentivize office-to-housing conversions.
Big Branford Development Won’t Go SpecBy James Sanna | April 21, 2023 | Reprints | Unlock Link
A large development proposal in Branford could bring a huge volume of life science space to market, but its developer said the project won’t break ground without an anchor tenant.
Proposal to Lower Income Tax Rates Advances in HartfordBy The Associated Press | April 20, 2023 | Reprints | Unlock Link
Connecticut state lawmakers on Wednesday night advanced a Democratic proposal to reduce state income tax rates, but for some legislators the plan is not nearly enough.