Industry News
Two Orange Commercial Buildings Sell
March 21, 2024 | ReprintsA pair of nearby commercial properties in Orange have sold in separate transactions for a combined $2.5 million.
New Haven Homelessness Nonprofit Gets $120K Grant from KeyBank
By James Sanna | March 20, 2024 | ReprintsLiberty Community Services of New Haven has been awarded a two-year, $120,000 grant from KeyBank, through its foundation, that will pay for new vehicles so the nonprofit can reach the 2,400 people it serves every year.
Powell May Hint at Rate Cuts Today
By Christopher Rugaber | The Associated Press | March 20, 2024 | ReprintsTwo weeks ago, Chair Jerome Powell suggested that the Federal Reserve was “not far” from gaining the confidence it needed that inflation was headed sustainably down. It was a tantalizing suggestion.
Guilford Savings Bank Gave $300K in 2024
March 19, 2024 | ReprintsGuilford Savings Bank announced its annual charitable contributions last year totaled over $300,000.
Scannell Sells New South Windsor Warehouse
By James Sanna | March 19, 2024 | ReprintsBoston’s Scannell Properties has sold a warehouse it developed in South Windsor to a Massachusetts-based investor.
Fed Likely to Preach Patience on Rate Cuts
By Christopher Rugaber | The Associated Press | March 18, 2024 | ReprintsAcross the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates. Housing developers looking to get shovels in the ground.
Why Are So Many Voters Frustrated by the Economy? It’s Home Prices
By Josh Boak | The Associated Press | March 15, 2024 | ReprintsAt the root of this problem: America failed to build enough homes for its growing population. The shortage strikes at the heart of the American dream of homeownership – dampening President Joe Biden’s assurances that the U.S. economy is strong.
NAR Settles Commission Lawsuits
By James Sanna | March 15, 2024 | ReprintsThe National Association of Realtors abruptly reversed course Friday morning, announcing it was settling all lawsuits against it over real estate commissions for a substantially smaller sum than it would have paid under a preliminary verdict announced last year.
Report: Hartford Landlord Fights Landmark Tower’s Foreclosure
March 14, 2024 | ReprintsAdd another Hartford office tower to the list of those in trouble.
CT Housing Markets Missing Out on Inventory Bump
By James Sanna | March 14, 2024 | ReprintsNation-wide, a bump in new listings is giving hope to homebuyers and sellers alike. But not in Connecticut’s three biggest housing markets.
Bristol Land Sells for Mixed-Use Project
By James Sanna | March 13, 2024 | ReprintsA piece of commercial land and a single-family home in Bristol has traded hands so a developer can build a mixed-use project.
Orange Retail Building Trades for $3.16M
March 12, 2024 | ReprintsA prominent retail property in Orange has traded hands for $3.16 million.
Fintech Bank Opens Stamford HQ
March 12, 2024 | ReprintsEuropean fintech Banking Circle has placed its American headquarters office in Stamford, drawing Gov. Ned Lamont and state Banking Commissioner Jorge Perez to the ribbon-cutting.
Heat Pumps that Fit in Apartment Windows Promise Big Emissions Cuts
By Isabella O'Malley and Ingrid Lobet | The Associated Press | March 11, 2024 | ReprintsFor 27 years, the heat in Regina Fred’s Queens apartment building came from a noisy steam radiator that she couldn’t control and sometimes didn’t come on at all, leaving her shivering. Sometimes, the radiators ran so hot that residents had to keep their windows open...
$30M Infill Project Rises at Gateway to Windsor Center
By Steve Adams | Commercial Record Staff | March 8, 2024 | ReprintsAfter a stint as chief operating officer of New York developer Tishman Speyer’s operations in Brazil, Gregory Vaca returned to his native Connecticut during the pandemic to put his commercial real estate experience to work pursuing his own projects.
Biden Pledges More Funds, Regulatory Crackdown to Address Housing Costs
By James Sanna | March 8, 2024 | ReprintsAmong the many proposals and pledges included in his State of the Union speech Thursday night, President Joe Biden called on Congress to pass a package of tax credits and other funding measures to help address the nation’s housing shortage.
Bristol Wants Developers for Prominent Ex-Factory
By James Sanna | March 7, 2024 | ReprintsBristol officials are hoping to interest housing developers in a large, city-owned industrial property near their city’s downtown.
TD Bank Gives $1M to Expand Affordable Developer’s Assistance Program
By James Sanna | March 7, 2024 | ReprintsThe Community Builders, a national nonprofit developer of affordable and supportive housing, now has $1 million courtesy of TD Bank to scale up its Home Room housing instability pilot program.
Bigger Office Properties’ Higher Vacancy Rates Persist in Fairfield County
By James Sanna | March 6, 2024 | ReprintsA new analysis of occupancy data by commercial brokerage Avison Young finds that the bigger an office building is in Fairfield County, the more empty it continues to be.
Powell: Rate Cuts Still Likely, but More Evidence Needed that Inflation’s Tamed
By Christopher Rugaber | The Associated Press | March 6, 2024 | ReprintsChair Jerome Powell reinforced his belief Wednesday that the Federal Reserve will cut its key interest rate this year but that it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2 percent target.
