Issue link: https://nebusinessmedia.uberflip.com/i/1109602
www.HartfordBusiness.com • April 29, 2019 • Hartford Business Journal 11 FOCUS THE LIST Brownfield redevelopment funding recipients (1) Ranked by total amount of funding, FY 2018 Source: Conn. Department of Economic and Community Development (DECD) brownfield portfolio report. (1) Conn. Department of Energy and Environmental Protection and the Depart- ment of Economic and Community Development's Office of Brownfield Remediation and Redevelopment (OBRD) work closely together to provide liability relief and financial assistance for cleanup and redevelopment of brownfields in Connecticut. For more information, contact Mark Lewis, 860-424-3768; mark.lewis@ct.gov. (2) Abatement, demolition and remediation. (3) Remediation and site clearance. —Compiled by Stephanie R. Meagher. There is an audience for lifestyle concepts When Edgewater Hill in East Hamp- ton first broke ground in 2014, it was slated to be a community of condo- miniums and single-family homes in close proximity to retail. The plans included expansive green spaces and aimed to deliver a walkable lifestyle. Fast-forward to 2018, and ground was broken on the new home of the town hall, police station and board of education offices at Edgewater Hill. This community within a communi- ty is reflective of what today's buyers want: a home that makes it easy to live, work and play in their own back — and front — yards. Eco-friendly living has appeal In the National Association of Real- tors (NAR) Realtors and Sustainability 2018 Report, 61 percent of Realtors indicated that homebuyers had an interest in sustainability. And, while it is easy enough to add Energy Star ap- pliances to an existing property, buyer demand for green features and ameni- ties runs far deeper. Many developers are building to- day's homes to be Energy Star rated or Zero Energy Ready, carrying the theme of "being green" from the win- dows and lighting to the heating and cooling solutions. The 2019 survey of recent and pro- spective homebuyers conducted by the National Association of Home Builders (NAHB) found that better insulation, energy-efficient lighting and Energy Star-rated windows and appliances ranked tops for helping achieve buyer goals for energy efficiency. Further, more than half of respondents gave essential or desirable rankings to "in- door air quality features." As the spring residential real estate market gains momentum and more new development comes to market, the communities where demand outpaces supply will be those equipped to meet the wants of today's buyers. By keeping walkability, sustainabil- ity and the desire for a live-work-play lifestyle top of mind, developers can help ensure strong interest when they bring new inventory to market and defy overall market trends. Candace Adams is president and CEO of Berkshire Hathaway HomeServices New England Properties, Westchester Properties and New York Properties. Brownfield redevelopment funding recipients (1) (Ranked by total amount of funding, FY 2018) Rank Applicant/ Project Amount funded Type of assistance Funding source Total project cost 1 Town of Preston Preston Riverwalk (2) 14 Route 12 Preston, CT 06365 $10,000,000 Grant State Owned Properties Program $610,000,000 2 Town of Windsor Locks Montgomery Mills 25 Canal Bank Road Windsor Locks, CT 06096 $4,000,000 Loan Brownfield Remediation Program $52,731,247 3 City of Meriden Targeted Brownfield Loan & Grant Combo 1 King Place Meriden, CT 06451 $4,000,000 Grant & loan Brownfield Remediation Program $38,000,000 4 Taom Heritage LLC Clock Factory 133 Hamilton St. New Haven, CT 06511 $4,000,000 Loan Brownfield Remediation Program $37,868,000 5 Spectra 101 LLC Targeted Brownfield Development Loan 111 Pearl St. Hartford, CT 06103 $2,400,000 Loan Brownfield Remediation Program $21,660,000 6 Waterbury Development Corp. Targeted Brownfield Loan & Grant Combo 698 South Main St. Waterbury, CT 06702 $2,091,000 Grant & loan Brownfield Remediation Program $2,091,000 7 Northeast Neighborhood Partners Inc. Swift Factor 10 Love Lane Hartford, CT 06106 $2,000,000 Loan Brownfield Remediation Program $33,844,803 8 Norwalk Redevelopment Agency Municipal Brownfield Grant Round 10 10 Raymond St. Norwalk, CT 06854 $2,000,000 Grant Brownfield Remediation Program $3,475,000 9 Town of Sprague Baltic Mill 29 Bushnell Hollow Road Sprague, CT 06330 $2,000,000 Grant Brownfield Remediation Program $2,000,000 10 City of Hartford Municipal Brownfield Grant Round 11 393 Homestead Ave. Hartford, CT 06103 $1,900,000 Grant Brownfield Remediation Program $1,900,000 11 Spectra 111 LLC Targeted Brownfield Development Loan 111 Pearl St. Hartford, CT 06103 $1,600,000 Loan Brownfield Remediation Program $21,660,000 12 Colt Gateway LLC Targeted Brownfield Development Loan 140 Huyshope Ave. Hartford, CT 06106 $1,530,000 Loan Brownfield Remediation Program $13,629,543 13 169 Henry Street LLC Targeted Brownfield Development Loan 169 Henry St. Unionville, CT 06085 $1,085,000 Loan Brownfield Remediation Program $5,674,805 14 Cherry Street Partners LLC Targeted Brownfield Development Loan 375 Howard Ave. Bridgeport, CT 06605 $1,000,000 Loan Brownfield Remediation Program $26,125,000 15 Waterbury Development Corp. Risdon Manufacturing (3) 2100 South Main St. Waterbury, CT 06706 $1,000,000 Grant Brownfield Remediation Program $1,000,000 16 Town of Cheshire Ball & Socket Arts (4) 493 West Main St. Cheshire, CT 06410 $750,000 Grant Brownfield Remediation Program $750,000 16 Town of Plymouth Municipal Brownfield Grant Round 11 142 Main St. Terryville, CT 06786 $750,000 Grant Brownfield Remediation Program $750,000 18 Town of Killingly Municipal Brownfield Grant-Additional Funds 42 Maple St. Danielson, CT 06239 $600,000 Grant Brownfield Remediation Program $4,589,306 19 Town of Hamden Municipal Brownfield Grant Round 10 560 Newhall St. Hamden, CT 06517 $600,000 Grant Brownfield Remediation Program $600,000 20 Teacher's Corner Hartford LLC Targeted Brownfield Development Loan 370 Asylum St. Hartford, CT 06103 $560,000 Loan Brownfield Remediation Program $20,289,542 21 Town of Enfield Municipal Brownfield Grant Round 9 98 Prospect St. Enfield, CT 06082 $550,000 Grant Brownfield Remediation Program $882,000 22 Hancock Partners LLC Cherry Street Lofts 1325 Railroad Ave. Bridgeport, CT 06605 $500,000 Loan Brownfield Remediation Program $38,056,000 23 Hancock Partners II LLC Cherry Street Lofts 1325 Railroad Ave. Bridgeport, CT 06605 $500,000 Loan Brownfield Remediation Program $23,841,000 Source: Conn. Department of Economic and Community Development (DECD) brownfield portfolio report. (1) Conn. Department of Energy and Environmental Protection and the Department of Economic and Community Development's Office of Brownfield Remediation and Redevelopment (OBRD) work closely together to provide liability relief and financial assistance for cleanup and redevelopment of brownfields in Connecticut. For more information, contact Mark Lewis, 860-424-3768; mark.lewis@ct.gov. (2) Abatement, demolition and remediation. (3) Remediation and site clearance. (4) Remediation and reuse. —Compiled by Stephanie R. Meagher.