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State Awards $23M to Eight Communities to Support Livability and Equity

by The Commercial Record | Aug 11, 2023 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

The Connecticut Communities Challenge Grant program recently awarded its third round of grants to eight cities and towns to fund a range of revitalization projects intended to support job growth.

CT’s Smallest City Finds Room for Housing Production

CT’s Smallest City Finds Room for Housing Production

by Steve Adams | May 12, 2023 | Commercial & Industrial, CR Daily, Industry News

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.

Australia to Buy American Submarines, Giving CT a Boost

Australia to Buy American Submarines, Giving CT a Boost

by James Sanna | Mar 14, 2023 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

Could the already-hot New London-area housing market get even more demand from an expanding Electric Boat Co. shipyard?

Report: Sub-Builder Wants to Build Worker Housing

by The Commercial Record | Feb 1, 2023 | Commercial & Industrial, CR Daily, Industry News

Groton’s state senator says the town’s biggest employer, the Electric Boat Co. submarine shipyard could offer housing to workers as a way to attract more employees amid a boom in orders from the U.S. Navy.

Prolific Hartford-Area Developer Pitches New London Project

Prolific Hartford-Area Developer Pitches New London Project

by James Sanna | Oct 24, 2022 | Commercial & Industrial, CR Daily, Industry News

Avner Krohn, the multifamily developer perhaps best known for his almost single-handed campaign to revitalize downtown New Britain, is expanding his reach to New London.

Chamber Claims Wind Benefits for Eastern CT Industry

Chamber Claims Wind Benefits for Eastern CT Industry

by James Sanna | Dec 22, 2021 | Commercial & Industrial, CR Daily, Industry News

The state needs to set up an agency to help real estate developers and manufacturers navigate the growing offshore wind sector, the report said.

New London Brokerage Merges with William Pitt Sotheby’s

New London Brokerage Merges with William Pitt Sotheby’s

by The Commercial Record | Oct 7, 2021 | CR Daily, Industry News, Residential Real Estate

Arruda Real Estate, an 18-agent brokerage with offices in Mystic and Plainfield, is merging with William Pitt Sotheby’s International Realty, the larger brokerage said in a statement Monday.

NOAA: Rising Seas to Make ‘Sunny Day’ Flooding More Common

NOAA: Rising Seas to Make ‘Sunny Day’ Flooding More Common

by The Commercial Record | Jul 26, 2021 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

This month’s heavy rains follow a year in which coastal communities in the United States experienced record high-tide flooding, a trend that federal ocean researchers say is expected to continue into the future “without improved flood defenses.”

Rail Officials Push 15-Year Plan to Boost Northeast Corridor

Rail Officials Push 15-Year Plan to Boost Northeast Corridor

by The Associated Press | Jul 15, 2021 | Commercial & Industrial, CR Daily, Industry News

As Congress eyes an infrastructure package, a coalition of transportation agencies and Amtrak on Wednesday released a 15-year plan of rail improvements.

Report: New London Looks for Expanded Train Ties

Report: New London Looks for Expanded Train Ties

by The Commercial Record | Mar 11, 2021 | Commercial & Industrial, CR Daily, Industry News

New London officials are hoping to boost the local economy by improving its rail connections with the Boston area.

Chamber Claims Wind Benefits for Eastern CT Industry

Offshore Wind Power Project Nears Approval, Boosting Bridgeport

by The Associated Press | Mar 10, 2021 | Commercial & Industrial, CR Daily, Industry News

The first commercial-scale offshore wind power development in U.S. history is edging closer to approval, federal officials said Monday.

Retired Zappos CEO-Turned-Developer Dies in New London House Fire

by The Associated Press | Nov 30, 2020 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com, who spent years working to transform the city’s downtown area, has died.

Navy Awards $9.5B Submarine Contract to Electric Boat

Navy Awards $9.5B Submarine Contract to Electric Boat

by The Associated Press | Jun 23, 2020 | Banking & Lending, Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

The Navy has announced a proposed $9.5 billion contract with General Dynamics’ Electric Boat to build the first two submarines of a new generation of ballistic missile vessels.

Originators Balanced Refi Boom with Purchase Market

Originators Balanced Refi Boom with Purchase Market

by Diane McLaughlin | May 28, 2020 | Banking & Lending, Industry News

With mortgage interest rates at historic lows, loan originators in 2019 experienced a months-long refinancing boom that has continued amid the coronavirus crisis.

More Affordable Housing Markets Make Gains in 2019

More Affordable Housing Markets Make Gains in 2019

by Bram Berkowitz | Mar 5, 2020 | Industry News, Residential Real Estate

It was another somewhat bearish year for Connecticut’s housing market, as total single-family home sales dipped, while prices barely increased. Still, some bright spots appeared that are worth a closer look.

Upgrades OK’d to Make New London Offshore Wind Hub

Upgrades OK’d to Make New London Offshore Wind Hub

by The Associated Press | Feb 12, 2020 | Commercial & Industrial, CR Daily, Industry News

A plan to upgrade the port of New London so it can become a staging area for the offshore wind industry has been approved.

Upgrades OK’d to Make New London Offshore Wind Hub

Electric Boat Will Need to Hire More as Production Ramps Up

by The Associated Press | Feb 4, 2020 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

Defense contractor General Dynamics Electric Boat will need to hire thousands more employees over the next decade as it ramps up submarine production, the company’s president said Monday.

Proposed Navy Shipbuilding Cuts for Upcoming Budget Will Spare Groton

Proposed Navy Shipbuilding Cuts for Upcoming Budget Will Spare Groton

by The Associated Press | Dec 30, 2019 | Commercial & Industrial, CR Daily, Industry News, Residential Real Estate

The Navy is proposing construction cutbacks and accelerated ship retirements that would delay, or sink, the Navy’s goal of a larger fleet – and potentially hurt shipyards, according to an initial proposal.

Grand Jury Indicts New London Developers in RI Kickback Scheme

Grand Jury Indicts New London Developers in RI Kickback Scheme

by The Commercial Record | Dec 18, 2019 | Commercial & Industrial, CR Daily, Industry News

New London developers Yehuda Amar and Michael Barlow and a third defendant face 30 felony counts stemming from an investigation into bribery, obtaining property under false pretenses and tax evasion at Rhode Island’s Twin River Casino.

Upgrades OK’d to Make New London Offshore Wind Hub

Groton Gets Boost from $22B Navy Sub Contract

by The Associated Press | Dec 3, 2019 | Commercial & Industrial, CR Daily, Industry News

The U.S. Navy has awarded a $22.2 billion contract for the construction of nine additional Virginia class submarines.

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