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HARTFORD: In spite of the announcement by Connecticut Water Services [Nasdaq: CTWS] that it is going ahead with its merger with the San Jose Group [NYSE: SJW], Eversource [NYSE: EV] doesn’t sem ready to throw in the towel.
The company released a statement challenging CTWS’s statements about its bidding process, saying, “Connecticut Water confirmed yesterday that its “go-shop” process failed to solicit even a single additional indication of interest. Rather than being designed to solicit potentially superior proposals for the benefit of Connecticut Water shareholders, the “go-shop” process instead failed to reflect a sincere intention to consider superior alternatives.”
NEW HAVEN: A detailed real estate report by the real estate firm Colliers International shows that new developments in the recently ended 1st Quarter combined to produce a positive outcome for New Haven’s office market. While the report presents the information as good news the actual city’s vacancy rate has increased in the quarter.
More than 60,436 feet of square footage was absorbed in the quarter, which is a pretty healthy number for New Haven. As we previously reported in January, Colliers had not yet considered the new 95,000 of square feet by the new “tech” building, District. The most recent report includes that added space to the New Haven market, and it has increased the overall vacancy rate for the city from 19% percent at the end of 2017 to 19.3 percent today in spite of the new square footage leased.
The Collier’s report authored by New Haven realtor John Keough describes the District located at 470 James Street between the East Rock and Fair Haven neighborhoods.
EAST WINDSOR: Federal officials are giving the go ahead for Connecticut’s Mashantucket and Mohegan Tribes for a jointly owned satellite casino in East Windsor.
The casino will be at the now closed Showcase Cinemas in East Windsor. Connecticut officials and the tribes chose the spot just a few minutes south of the $800 million MGM casino expected to open in Springfield on September 1.
The casino was held up for more than six months as the U.S. Department of the Interior did not approve the plan. In February the tribes filed a lawsuit saying the department was delaying the plans.
By Mitchell Young
NEW LONDON: Connecticut will be making a $15 million investment at the Connecticut State Pier in New London, for its potential deployment as a staging site for equipment and workers for the seven offshore wind projects currently planned in the northeast.
Just last week, two major offshore wind projects were approved in the region representing up to 1200 Megawatts of production. Massachusetts approved in early May a 100 turbine project by Orange based Avantgrid’s subsidiary Avantgrid Renewables, based in Portland OR. The company will build the 800 megawatt wind power “farm,” 15 miles south of Martha’s Vineyard, construction is expected to begin in 2019.
WINDSOR LOCKS: The emergence of low cost airlines flying out of Bradley International Airport has driven down fares for Connecticut and western Mass travelers. According to a report by industry trade group Airlines for America, fares are the lowest they have been for nearly two decades.
The group says prices have been reduced by 11% [adjusted for inflation] since 2000 and the average one way fare from Bradley is currently $197.
Low cost airlines Jet Blue, and Spirit Airlines have been added to the Bradley line up in the past few years, contributing to the reductions. Spirit came to Bradley in 2017and flies to South Carolina and Florida and Jet Blue, which is expected to add more flights in the upcoming year began service in 2015.
New Haven Magazine