Baldwin 1876BlackRockFAIRFIELD: the sale of 1876 Black Rock Tpke. was sold for $3.1 million, Baldwin Pearson & Co., Inc., handled the transaction.

George Shawah Jr., represented the seller, Miro 1876 Associates, LLC, while Barry Jacobson of Joseph P. Day Realty, represented the buyer who was not disclosed yet.

The 7,000 square feet retail building was formerly occupied by Citibank. The new owner has lease commitments from Granola Bar (a local restaurant) and The Pet Pantry. The
Granola Bar has locations in Stamford, Westport, Greenwich, Rye and Armonk, as well as a food truck and a catering business. Pet Pantry has locations in Wilton, New Canaan, and Riverside.Fai

bowmanCHESHIRE: Sally Bowman Real Estate has been acquired by Berkshire Hathaway HomeServices New England Properties bringing its agent count to more than 1,800 and its office count to 55.

“We are extremely pleased to welcome Sally Bowman and her team to Berkshire Hathaway HomeServices New England Properties,” says Candace Adams, CEO of Berkshire Hathaway HomeServices New England, New York and Westchester Properties.

“Sally Bowman Real Estate has been opening doors to new homes, one house at a time, since 2009,” says Sally Bowman, owner of Sally Bowman Real Estate. “My family has been living and working in Cheshire for the last 100 years and I’m raising my own family here. We are eager to continue serving our community, now in partnership Berkshire Hathaway HomeServices New England Properties.”

motgomerymillWINDSOR LOCKS: The consumer impact of the new Springfield to New Haven rail service is being felt on a long dormant and decaying Montgomery Mill factory building.

Construction is about to begin on the $62.5 million rehabilitation of the 223,058 square foot historic J.R. Montgomery factory complex into a mixed-income development of 160 apartments.

The construction expected to take 18 months and will turn the long-vacant 1800s mill complex into modern apartments across the street from the towns future commuter rail station.

chestervillageCHESTER: Chester Village West set on 55 acres with 105 cottages and apartments was purchased by Masonicare, based in Wallingford, the state’s largest not-for-profit provider of senior healthcare and retirement living from LifeCare Services of Des Moines, Iowa.

“The addition of Chester Village to our organization is a win-win for all,” said Jon-Paul Venoit, President/CEO of Masonicare. “We have extensive experience in the retirement living arena and our cultures are very similar. We are retaining nearly all of their employees, and we expect to invest in some capital improvements on the campus as well.”

Sales terms were not disclosed.

sealORANGE: The 50,666-square foot industrial building on approximately 6.5 acres of land at 70 Robinson Boulevard, has been sold for $2.1 million

The building is being purchased by Robin Equity, LLC of Orange, [John Pritchard, Argyle Road]. The property will be repurposed for American Seal & Engineering Corporation to serve as its new Global Corporate Headquarters and the main manufacturing facility for Engineered Products, Advanced Manufacturing Technology and Product Testing and Development.

Dobbins Maureen Shadowbox 141x212HAMDEN: Maureen J. Dobbins, Director, Business Development, has been named Vice President and an officer of Hoffman Architecs. Dobbins hash more than 25 years of experience in marketing and business development for architectural services, and earned a bachelor’s degree in management information systems from Western Connecticut State University and a master of business administration (MBA) degree in marketing management and information systems from Pace University in New York.

An owner of the firm, she will celebrate her 10th anniversary with Hoffmann Architects in 2018. Dobbins is a member of the Building Owners and Managers Association (BOMA) Southern Connecticut, Eastern Region of APPA Leadership in Educational Facilities (ERAPPA), CoreNet Global, the Construction Institute, International Facility Management Association (IFMA), New England Healthcare Engineers’ Society (NEHES), and Professional Women in Construction (PWC). A long-term board member and officer for BOMA Southern Connecticut, Dobbins takes the helm as President of the organization in January 2018. She lives in Redding, Connecticut.

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Hartford's Mark Twain Apartments Fetch $2.6 Million In Sale

HARTFORD: It was a good year end for Steve Pappas of the Hartford office of investment broker Chozick Realty Inc. who managed the sales of Mark Twain, Candlewood and Cardinal Hill Apartments bringing a combined price of $6.75 million.

Mark Twain Apartments, located at 367-381 Farmington Avenue, has 65 apartment units and is adjacent to the historic Mark Twain House, and only blocks from Aetna Insurance and the St. Francis Hospital complex. The unit mix of is 6 studios, 43 one-bedroom and 15 two-bedroom and 1 three-bedroom units. Mark Twain Apartments sold for $2.6 million.

Mark Twain Apartments,

Candlewood Apartments, located at 123-131 Clinic Avenue New Britain, has 40 apartment units on a 1.66-acre site, and are all two-bedroom units. Significant upgrades have occurred over the past few years including many remodeled kitchens, baths and new roofs. The complex sold for $2.65 million.

Hunton TeachersCornerHARTFORD: Hunton & Williams LLP and interntional law firm based in Richmond VA.,as advised RBH Group of Newark NJ., in its $20 million acquisition and planned redevelopment of 370 Asylum Street.

According to H&W “the transaction will transform and repurpose a long-vacant commercial building in downtown into a mixed-use space. The project, known as Teachers Corner Hartford, will be comprised of luxury market-rate and affordable residential units, pre-marketed to local education professionals, and will feature a suite of amenities.”

Hunton & Williams’ legal team was led by New York real estate partner Laurie Grasso and associate Douglas Hoffmann.

Trahan Aaron CenterbrookCENTERBROOK: Aaron Trahan, AIA, of Centerbrook Architects & Planners

The award, sponsored by the has earned the 2017 Emerging Architect Award from AIA Connecticut Emerging Architects and Design committees.

According ot AIC CT the committees, “recognizes and supports emerging graduate architects who have made significant contributions to the profession or have rendered distinguished public service.”

The honor was bestowed to Trahan at the AIA Connecticut 2017 Awards on Dec. 4. He is Centerbrook’s first recipient of the award, now in its fourth year.

“Aaron is an extraordinary designer, a respected leader among his colleagues, and a kind and generous advocate for the architectural profession,” said Centerbrook Principal Todd Andrews,AIA who nominated Trahan for the award.

Overlook WillowCreekHARTFORD: The Housing Authority of the City of Hartford [HACH] and Overlook Village ReDevelopment Associates broke ground for the redevelopment of Chester A. Bowles Park in the Blue Hills neighborhood.

The public housing complex constructed in the 1950s is being demolished to make way for a mixed-income residential community called Willow Creek. The two-phase development project is being financed by a mix of private and public funds, including grants from the Connecticut Department of Economic and Community Development and the Capital Region Development Authority, as well as with low income housing tax credits issued by the Connecticut Housing Finance Authority.

The development consists of sixty-two mixed-income rentals, approximately 25 single-family units, and a community room for residents will be built during the first phase of construction. During the second phase, 43 units will be added for low-income, middle income and market-rate renters. Five of those units will be offered as supportive housing for the homeless.

Puzycki Allison CESMIDDLETON: Allison Puzycki has joined Consulting Engineering Services (CES). Puzycki is a graduate of Johnson & Wales University and has a bachelor’s degree in Marketing Communications and more than ten years of marketing experience. Most recently, she served as director of marketing for Svigals + Partners, an architecture and art firm in New Haven. 

Puzycki enters the role of director of marketing ready to advance the consulting engineering services brand, cultivate the firm’s next phase of growth and expand their existing network of relationships.

“We are thrilled to have Allison join our team at a pivotal time for the firm,” said Michael Walsh, CES president.

SLAM SacredHeartFAIRFIELD: The S/L/A/M Collaborative (SLAM) “programmed and designed” the new 120,000 square foot $65 million Center for Healthcare Education at Sacred Heart University, shared between the College of Health Professions and College of Nursing. 

The exterior of the building is designed as three distinct forms that represent the three major programmatic functions of the building. “This helped with the scale of the building,” said Rick Herzer, AIA, design principal at SLAM. “We thought of it as three elegant parallel forms and not just one enormous building with a door.”

A main upper plaza receives arriving users and orients them to the main entrance and central atrium. An adjacent lower plaza features a reflecting pool and a sculpture by David Harber. This more sheltered, contemplative space is flanked by an amphitheater of tiered stone seating encourages formal or informal gatherings.  The sound of falling water is provided by a spillway that connects upper and lower plazas.

The brands TB2WILTON: Federici Brands is relocating its headquarters into 10,451to 15 River Road.

Federici Brand is the creators of the “Time Bomb” age defying skin care products and “Color Wow” winner of Allure’s best of Beauty and Women’s Wear Daily Product of the Year.

Chris O’Hara, senior vice president of Coldwell Banker Commercial NRT Inc., represented Tenet Partners on the long-term sublease to FB

Tenant Partners is consolidating several locations and relocating to a new corporate headquarters in Norwalk to better service its clients.

Tenet Partners is a brand and marketing consultant group that “grows businesses and revenues with newer principles focusing on the center of business strategy. “

The property is owned and managed by Kimco Realty.

QA TownHall

Newington, CT After nearly 10 years of public debate, the town approved a $28.8 million bond for a new town hall with voters favoring the project by a more than 2-1 margin, giving the town the votes needed to move ahead with its plans to build.

As a result, QA+M Architecture will develop its design of the proposed 75,000 s/f town hall and community center to be built in the upper town hall parking lot. The new building allows for improved resident access to town services, an open floor plan, and a reduction of 28,000 s/f from the town’s existing deteriorating and leaky town hall. The community center space includes two full-sized basketball courts. The plan provides more storage spaces and a discrete entrance for human services and board of education offices with an open floor plan, town council chambers, community television and the Transition Academy.

CCIM newofficers

 

New Officers For CCI, Sworn In

On November 30th, the CCIM Connecticut Chapter held its annual installation of officers’ dinner in conjunction with the annual CCIM Dealmakers Awards at New Haven Country Club.

HAMDEN: The event began by viewing a video honoring the memory of Wayne D’Amico, CCIM and past president of the CCIM Institute, as well as CCIM Connecticut chapter, serving both organizations for decades. He was both loved and well respected by all CCIMs in Conn., and in countries where there are CCIM chapters. Through the CCIM Foundation, a scholarship fund has been set up to accept donations for his two children. He will be missed!

This year the CCIM Connecticut chapter applications doubled with 12 CCIM CT Chapter members congratulated upon receiving the CCIM Connecticut Dealmaker Award. 

hgomependingHome prices across the nation have mostly recovered from the worst of the from the declines suffered during the “Great Recession,” according to HSH.com’s “Home price recovery index.” HSM.com is a mortgage resource website.

Two Connecticut metro areas are among the worst recovery in the country, New Haven - Milford and Bridgeport – Stamford.

The New Haven - Milford Metro was reported as one of the least recovered metro areas on the national list. During the third quarter of 2017, home prices in the New Haven metro were still 22.31 percent below their peak value and Bridgeport Stamford down 20%.

MILFORD: Total Mortgage has announced expansion plans for 2018, as it seeking to open branches in 12 new states over the next 12 months.

The company is licensed in 45 states and Washington, D.C. In a statement released Tuesday, Total Mortgage said its goal is to establish local, community-serving branches based on the same model they have employed across Connecticut.

As part of its expansion plans, the firm has hired industry veteran Michael Duda in the newly created position of director of national sales. In his 25-year career in mortgage, Duda has worked in retail, wholesale, and the correspondent space.

750 mainHARTFORD: A downtown land mark 750 Main Street has been sold for $4.3 million.

First built in 1921 the 17 floor “skyscraper” the former Hartford-Connecticut Trust has a 128,000 square feet and will take on a new economy life as an executive suites facility. According to the Hartford Courant the building is currently 75% occupied.

The seller Boxer Properties of Houston, bought the property in 1998 for $1.5 million

The buyer is Stark Office Suites, of Rye Brook, NY which offers flexible office space and has ten locations including Harrison, Mount Kisco, Rye Brook, Scarsdale, White Plains, NY and Greenwich, Danbury, Stamford and now Hartford.

Stark says, “with Stark you get more. More than prestigious addresses, impressive offices, state-of-the-art technology and superior amenities. We offer the dual benefits of size and service: the infrastructure and scale to promptly meet all your office needs, and the personal attentive touch that is our hallmark. It is why more than 900 successful businesses and professional practices have chosen Stark Office Suites to call home.”

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house bar graph arrow up2

BOSTON: Single-family home sales in Connecticut continued their increase in sales jumping 3.8 percent in October compared to October 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.

A total of 2,946 single-family homes were sold in Connecticut during the month of October, compared with 2,837 sold in October 2016. Prices also had the sizeable increase that was missing from many other months where quantity increases were significant.

The, the median price of a single-family home rose 2.9 percent in October to $247,000, compared with $240,000 a year ago.

"The Connecticut housing market continues to perform at an impressive level," said Timothy Warren, CEO of The Warren Group. "This is the most single-family homes sold during the month of October in over a decade, while October condo sales haven't seen this level of activity since 2007."

Year to date, there were 29,090 single-family home sales as of October 2017, compared to 27,135 over the first 10 months of 2016 – a 6.9 percent increase. The year-to-date median price edged slightly higher to $250,000, compared to $248,571 over the same period of 2017.

Condominium sales also continued their sales tear, increasing in October, rising 4.8 percent with 845 condos sold, up from 806 sold in October 2016. The median sale price increase for condos continued their much weaker increases at only 0.3 percent to $160,000, compared to $158,000 in October 2016.

Year to date, there were 7,627 condo sales as of October 2017, a notable spike from the 6,992 sold over the first 10 months of 2016 – a 9.1 percent increase. The year-to-date median price was $162,500 in October 2017, a 0.3 percent decrease from last year’s $163,000.

363 boston post roadORANGE: The building housing long term tenant Porch and patio has been sold for $2.3 million. The 15,300 square foot commercial building at 363 Boston Post Road was sold by Gary Bellard, CCIM and with Colonial Properties, Inc. of Orange. Bellard, represented the Seller, 363 Boston Post Road Associates, LLC, [ Orange resident, Gary Richitelli].

The buyer was represented by Fred A. Messore, Senior Vice President, of Colonial Properties, Inc. The single-tenant investment property was “completely renovated about eight years ago” ..

"This property was on the market for a very short time and traded at a very low cap rate, demonstrating the strong demand in the marketplace for quality investment properties," said Colonial Properties president Michael Richetelli.

Schilke Christine CTMainStreet
Christine Schilke, Connecticut Main
Street Center

Connecticut stands ready to enter a new era of economic development as the key components of market demand, transit oriented development, and a burgeoning tax increment financing mechanism swirl together in a heady mix of market potential.  At the center stands Connecticut’s downtowns and main streets, perfectly poised to offer the next golden era of Connecticut’s economy.

A recent analysis commissioned by the Connecticut Main Street Center found there is 187 million s/f of vacant and under-utilized space collectively located in Connecticut’s downtowns and town centers.  If fully built out and occupied to full capacity, this would result in 20,000 new businesses; 88,000 new housing units; and 215,000 new permanent jobs.  In terms of revenue, this development would generate $467 million in annual sales tax revenue; $567 in annual income tax revenue and $283 million in annual property tax revenue.  

DAmico Wayne CCIMHARTFORD: The CCIM [Certified Commercial Investment Member] Foundation has created tyhe Wayne D’Amico Memorial Fund to recognize, D’Amico an Ivoryton resident and long time commercial realtor and CCIM member. D'Amico passed away on November 3 after a struggle with Pancreatic Cancer.

 “Wayne was a great friend, an industry icon, as well as a great husband and father,” said CCIM Institute president Robin Webb..”

Business New Haven publisher, Mitchell Young said of D’Amico. “Wayne was a passionate and positive person and a great representative of the properties and communities he was working in and for. I never left a conversation with him not being better informed and feeling upbeat about progress in the region.”

Geenty 5EnterpriseNORTH BRANFORD: The Geenty Group, Realtors, reports a three-year lease with options to extend 2 units at 5 Enterprise Drive. The tenant is TXX Services, Inc. John Hunt. is the president.

TXX Services handles warehouse distribution of products for the medical industry. This is a branch distribution facility for the Long Island, N.Y.-based firm.

The space is 4,000 square foot warehouse with a truck dock and a drive-in door with 16’ ceiling heights.   The landlord is K. Russo Construction, Inc.

Kevin Geenty SIOR was the agent for the tenant. Bill Clark, also of The Geenty Group, was the agent for the landlord.

Summit LeeFarmDanbury: Lee Farm Corporate Park a class A office building on I-84 was purchased for $16.9 million by Summit Development of Southport and The Grossman Companies of Quincy, Mass., in 2013. The partnership announced on November 17 the sale for $31.75 million to CT Property Realty LLC., based in Roslyn New York.

The five-story hilltop property was built in 1987 and according to the partnership “required extensive renovations.” The renovations helped increase its occupancy from 65% at acquisition to 100% at sale. Lee Farm consists of 215,649 square foot of office space and is fully leased to “blue-chip tenants” including Wells Fargo, Navigator Management, IMS Health, Lenovo and Sigmund Software.

Felix Charney, principal of Summit Development said, “Our transformation of Lee Farm was both rapid and dramatic as we made extensive upgrades to the property while filling all of the vacant space and replacing GE Capital. When GE Capital vacated, we worked closely with Cushman & Wakefield to execute a lease with Wells Fargo.”

“Given its easy access, visibility and relative affordability, Lee Farm is ideal for large companies that are building a presence in this growing area or for smaller organizations that are looking to expand,” said Jake Grossman, president of The Grossman Companies. The property includes an onsite full-service cafeteria, fitness and conference centers, emergency generation, and given its hill top location “ panoramic views.”

Jeff Dunne of the CBRE investment and Steven Bardsley, CBRE senior vice president for CBRE Institutional Properties at CBRE/Capital Markets represented both the sides in the transaction.

14westprtNORWALK: 14 Westport Avenue a 32,000 square foot “class B” office building in downtown sold for $2.9 million. The three-story building was built in 1985 and currently houses Constellation Health Services as its sole tenant. RHYS commercial Realtors of Stamford represented the seller.

“14 Westport Avenue is a well-situated asset with great access to both I-95 and the Post Road,” said RHYS executive VP and partner Christian Bangert. “The existing rental income provided a unique investment opportunity for the buyer, while still also allowing them to be able to occupy a portion of the vacant premises.”

Bangert, along with RHYS president and CEO Cory Gubner and director Alex Haendler represented the seller, Watermill Westport, LLC and John Zervos of DVB Commercial represented the buyer, Philipos Properties.

Godin 30FieldstoneCHESHIRE: A 35,300 square foot warehouse facility on 4.3 acres at 30 Fieldston Court was sold for $1.325 million. The new owner is Target Sports. Seth Godin Jr of Godin Property Brokers in Middlebury, represented all parties. Godin said, “the property was to accommodate the company’s growth.”

Target’s 13,500 square foot facility at 24 Robert Porter Road in Southington is being offered for sale or lease.

Target sports sells through TargetSportsUSA.com an online store for bulk ammo, guns, selling cheap ammo, handguns, rifles and rimfire ammunition.

DUNKHARTFORD: City leaders issued a call Monday for developers to erect a new neighborhood north of downtown that links Hartford’s North End to its sweeping urban core along Main Street, and includes the city’s minor league ballpark as a centerpiece.

This is the second time Hartford officials have sought developers for the vacant land, which is composed of 32 properties across four parcels near the corner of Main and Trumbull streets.....>

 

Penfield by JD 2

The Pennfield Reef Lighthouse Repairs Project by Kronenberger Contstruction Earned the Company "BEST IN SHOW" Honors.

SOUTHINGTON: The, CT Associated Builders and Contractors of Connecticut (CT ABC) honoring construction companies and subcontractors who performed work on what it called, “outstanding construction projects completed as of October.”

Chris Fryxell, president of CT ABC  said the awards are “a celebration of the Merit Shop construction industry. It is such a privilege to recognize our member companies for their amazing accomplishments and the individuals who have exhibited an excellence in their craft and gone above and beyond to advance the values of safety and community service.” said “Congratulations and ‘thank you’ to all of our honorees for their well-deserved

In addition to members of the association also recognized were:

  • Co-Legislators of the Year: State Representative David Baram and State Senator Kevin Witkos
  • Hero Award: Vince Attwater-Young, G. Donovan Associates

Legacy Award: Robert Hollis, Central Connecticut Fire Protection and;

  • Industry Tribute Award: Allen Herring.

Of the 44 STEP safety program participants in the CT chapter, the following contractors entered and won a “Best of the Best” safety awards:

  • Large General Contractor: Cianbro Corp.
  • Small General Contractor: W.M. Schultz Construction, Inc.
  • Specialty Sub-Contractor: EMCOR Services New England Mechanical; and
  • Leadership Award (Safety Professional): Mike Franck, safety supervisor, Cianbro Corp.

The year’s Best in Show was awarded to Kronenberger & Sons Restoration, Inc. for the Penfield Reef Lighthouse Repairs Project. This top designation was chosen by the panel of judges as the year’s best of the best. The project involved the complete exterior envelope restoration, the granite caisson above the high tide line, the complete repair and restoration of the lightkeeper’s house including granite masonry restoration and repointing, rebuilding of the brick chimney, the replacement of existing fenestrations including doors, windows, running trim, the replacement of the existing roof assembly and the stripping and restoration of the steel octagon light and replacement of associated glazing along with hazardous material abatement in the form of lead and asbestos.

This year CT ABC recognized the following companies as Excellence in Construction Award recipients:

  • Institutional Large: Ethel Walker School - Centennial Center - C.E. Floyd Company, Inc.
  • Industrial: Manning LNG Storage and Trucking Facility - Cianbro Corporation
  • Specialty Contractors Mechanical/Commercial: Goodwin Hotel - Crest Mechanical Services
  • Historic Restoration/Renovation: Loom City Lofts - Enterprise Builders, Inc.
  • Specialty Contractors Electrical/Commercial: Columbia Gas Operations Center Campus - Interstate Electrical Services Corporation

 

  • Healthcare: Jewish Senior Services, the Harry and Jeanette Weinberg Campus - KBE Building Corporation
  • Specialty Contractors Mechanical/Industrial: Pepperidge Farm Sugar Silo & Automation Project - Notch Mechanical Constructors
  • Renovation: Saint Francis Hospital & Medical Center, 103 Woodland Street Renovation - S/L/A/M Construction Services; and
  • Residential: Davis Gardens - Viking Construction, Inc.

This year CT ABC recognized the following companies as Merit Award recipients:

  • Residential: Colony Street Transit Oriented Development - Enterprise Builders, Inc.
  • Institutional Large: Next Generation Connecticut Residence Hall, University of Connecticut - KBE Building Corporation
  • Historic Restoration/Renovation Exterior Restoration: New Haven Courthouse GA #23 - Kronenberger & Sons Restoration, Inc.; and
  • Specialty Construction SPECIAL AWARD: State Veterans’ Cemetery Expansions and Improvements - Nosal Builders, Inc.

main image2.ashxWilton, Shelton: Two properties are being slated for the development of 250 units of “assisted living, memory care and independent housing for the elderly,” according to to Sean Cahill, Avison Young principal and managing director of the firm’s Fairfield/Westchester office.

Sean McDonnell, head of the firm’s health care real estate division, joined with senior associate Alison Luisi of Avison Young’s Capital Markets Group to arranged the $5 million sale of a 3.81-acre site from Young’s Nurseries Inc. at 211 Danbury Rd. to 211 Danbury Road LLC. The site has been approved for the development of 90 assisted living and memory care units to be operated by Sunrise Senior Living, headquartered in McLean, VA. Sunrise is one of the nation’s leading senior care providers.

In the second transaction, Cahill and Luisi arranged the $3.79 million sale of an 8-acre, pad ready site at 26 Beard Sawmill Road in Shelton. The seller was Hawk’s Ridge of Shelton LLC and the buyer was Shelter Development LLC. The site has been approved for 160 units of assisted living, memory care and independent living housing to be operated by another leading national operator, Brightview Senior Living, of Baltimore MD.

Sunrise has two existing facilities in Stamford and Brightview has a facility in New Canaan.

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See Full List of Major Connecticut Cities Below

CONNCECTICUT: Rents in cities across Connecticut saw a monthly dip in rent, running counter to a year long trend. New Haven county rents have posted the steepest annual increases, with New Haven and Meriden seeing annual increases of 5% and 7% respectively. Connecticut’s overall annual rent increase for 2016 is only 1.3%.

October showed a different direction with rents making modest declines in Hartford, New Haven and Stamford as well as other cities across the state Only Danbury registered an increase in rents for October [1.35%].

Currently, median rents in New Haven stand at $1,080 for a one-bedroom apartment and $1,320 for a two-bedroom. Hartford is more affordable with only $820 and $1030 respectively.

Stamford remains the most expensive to rent among Connecticut cities with $1500 for a single bedroom and $1890 for a two bedroom.

New Haven and several of the cities have seen several months of modest declines but most of Connecticut have seen increases for the year. Danbury and Norwalk have both seen modest declines however.

house price decline1

HARTFORD: Single-family home sales in Connecticut jumped 2.98 percent in September compared to September 2016, according to the latest report from The Warren Group, publisher of The Commercial Record.

The number of homes sold increased slightly but the median price fell. A total of 2,899 single-family homes were sold in Connecticut during the month of September, compared with 2,815 sold in September 2016. Meanwhile, the median price of a single-family home fell 4 percent in September to $240,000, compared with $250,000 a year ago.

Property Tax 2

Washington: The "tax reform" proposal by Republican's in the US House of Representatives will limit deductions for state and local taxes and mortgage interest. The impact on higher cost of living and higher tax states like Connecticut will be greater than many other states with lower taxes and housing costs.

Attached is a national list of median property values and related property taxes. In additiion to real property, automobiles are taxed in Connecticut and the average tax is $555. The current proposal being debatedseeks to cap the property tax deductioin at $10,000 and the deduction of mortgage interest at $500,000. Additionally the plan's promoters assert that the overall rates for taxpayers will be lower and that the standard deductions will increase.

According to the Website wallethub.com which compiled the information, the average American household spends $2,149 on property taxes for their homes each year, according to the U.S. Census Bureau. Residents of the 27 states with vehicle property taxes shell out another $402.

The costs are considerably more in Connecticut, where the Median Priced Home is $297,000 iand is  taxed at $5637, the third highest rate of property txation in the country. SEE TABLE BELOW  [Median value, half of all Connecticut home are valued at less than $297,000 and half are higher].

170117 Windsor.Station 0005WINDSOR: Visions of a transit oriented development following the new Springfield to New Haven Rail have come to fruition in Windsor.

On October 20, Windsor mayor Don Trinks, Department of Economic and Community Development deputy commissioner Tim Sullivan, Associated Construction Company president Joseph Jankowski, members of the Windsor town council and other state and local officials joined Martin Kenny of Lexington Partners, to celebrate the official grand opening of Windsor Station Downtown Apartments, a $23 million, transit-oriented, 130-unit luxury multifamily rental community. The developers say the property is 93% leased since opening its doors in March.

LaMonica Paul REFA

HARTFORD: The Hartford chapter of the Real Estate Finance Association of Connecticut (REFA-CT) has named Paul LaMonica, president.

LaMonica, senior vice president of Farmington Bank has more than 35 years banking experience, primarily as a commercial real estate lender in the Tri-State and New England region. Over the last 20 years, he has provided more than $1 billion in financing to the regions investors and developers. LaMonica is a past senior CRE lender for numerous institutions including Farmers & Mechanics Bank, Citizens Bank, Liberty Bank and First Horizon Corporation.

bowles park conceptHARTFORD: Construction has begun with a groundbreaking in late October on the new Willow Creek apartments in the Blue Hills section of the city.

The multi-year, multi-phase project is considered a lynchpin to revitalize the Blue Hills neighborhood. When it’s done, it will include more than 60 mixed-income rental apartments and 25 single family homes for sale. The project is expected to be completed late next year.

"Hartford Mayor Luke Bronin said of the project, “this is just one piece of the puzzle."

The $40 million, project has been helped along with nearly $14 million in state and federal support.

Governor Dannel Malloy said at the groundbreaking, “"I just had to veto a budget that would have done away with the very housing department that just created 22,000 units of housing," Malloy said. "It doesn’t make sense. People need to understand that our great urban environments need replacement housing."

Village Redevelopment Associates LLC [Todd McClutchy] of Stamford is the site developer.

Hoffmann anniversaryHAMDEN: Hoffmann Architects, an architecture and engineering firm specializing in the rehabilitation of building exteriors, is commemorating the founding of the firm 40 years ago, in 1977.

Hoffmann Architects’ says its history began with the “mission to address design details that are commonly overlooked.”

After immigrating to the United States from Hungary in the 1950s, Hoffmann Architects founder and president John Hoffmann, FAIA studied architecture at the City College of New York.