Hartford Business Journal

October 28, 2019 — Family Business Awards

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www.HartfordBusiness.com • October 28, 2019 • Hartford Business Journal 3 By Sean Teehan steehan@hartfordbusiness.com I t might be its central location, or cheaper cost of land, but the town of Southington has quietly been a magnet for single-family home development in Connecticut. From 2015 to 2018, Southington issued 339 single-family home con- struction permits, more than any other city or town except Green- wich, which approved 553 permits during that time period, according to U.S. Census Bureau data. "We're busy, I've got two new customers I'm meeting this week," said Mark Lovely, president of Lovley Development Inc., a home- builder based in the Plantsville section of Southington who has several residential developments underway or planned in town. Lovely said he's not surprised Southington leads the state in single- family home construction because the town of nearly 44,000 residents didn't see as much of a slowdown in demand as the rest of Connecticut, following the Great Recession. The housing bubble burst and sub- sequent economic downturn from 2008 to 2010 wreaked havoc on the state's home-construction industry. Prior to 2008, Connecticut averaged between 9,000 and 10,000 new home permits annually; the new norm has been 2,000 to 4,000 annual permits. Southington has averaged about 85 new permits in each of the last four years. Town Planner Rob Phillips, whose been in his current job for six years, said Southington hasn't actively pursued single-family home develop- ment but has been working to attract businesses and fill empty storefronts and commercial buildings. High residential demand might be a result of restaurants and other busi- nesses opening in town, Phillips said. But Lovely said driving factors are likely the town's central location in the state and more affordable proper- ty values compared to its neighbors. Southington is about 20 miles from Hartford and 30 miles from New Haven. Lovely said he has had more than one homebuyer family in which one spouse worked in Hart- ford, and the other in New Haven. "It's so centrally located in the middle of the state, you can get anywhere from there," Lovely said. Added to that, land and property values are significantly cheaper in Southington than nearby Avon and Farmington. Homebuyers in Southington usually pay between Up Front Continued on page 4 >> TOWN PROFILE: SOUTHINGTON In dormant homebuilding environment, Southington is a hotspot "With the right partner, dreams become a reality." Lynne Stanley, AVP Cash Management, Windsor Federal Savings Tony Karlowicz, Co-Founder, Back East Brewery George Hermann, President & CEO, Windsor Federal Savings WindsorFederal.com – Tony Karlowicz, Co-Founder, Back East Brewery @windsorfederalsavings @windsorfederal A Southington home built by Lovley Development Inc. PHOTO | CONTRIBUTED

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