4 Hartford Business Journal • December 9, 2019 • www.HartfordBusiness.com
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Hartford Business Journal (ISSN
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per year — including two special
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said. "From 2013 to the present, renovations and
new construction in Glastonbury totals over a
million square feet."
Investor interest
The new hotel comes at a time when the Som-
erset Square development has garnered signifi-
cant interest from investors in recent years.
In May, Simsbury real estate investment firm
Hart Realty Advisers acquired a pair of four-
story office buildings in Glastonbury's Somer-
set Square for $30.3 million.
The two office buildings at 180 and 200
Glastonbury Blvd., together span over 184,871
square feet.
Both buildings house numerous tenants in
the insurance, financial technology, account-
ing and wealth management sectors, includ-
ing Wells Fargo Advisors, RBC Wealth Man-
agement and Washington Trust Co-Westerly.
In Oct. 2016, Manhattan-based Rouse Prop-
erties paid $42 million for The Shops at Som-
erset Square, the 115,000-square-foot lifestyle
shopping center at 140 Glastonbury Blvd.
Somerset Square's retail lineup includes:
Max Fish, Lux Bond & Green, Francesca's,
Victoria's Secret, White House Black Market,
Chico's, Talbots, Chipotle and Starbucks.
>> Town Profile continued
Glastonbury
General
Land area (sq. miles) 51
Median age 46
Population (2020) 34,810
Median household income $111,645
Unemployment rate 2.5%
Major Employers
Town of Glastonbury
Ikon/Office Solutions
Salmon Brook Nursing & Rehab
Open Solutions
Super Stop & Shop
Housing stock
Median price $344,100
Median rent $1,229
Government
Total revenue (2017) $175,617,200
Per capita tax $4,114
Mill rate 36.36
Grand List $4,179,095,067
Economy
Top employment industries Units Employment
Health care and social
assistance 164 2,435
Finance and insurance 189 2,101
Government 26 1,845
Top taxpayers (2018)
Taxpayer Amount
Connecticut Light & Power $44,052,150
Shops At Somerset Square LLC $28,651,700
New London Turnpike Apts
Investors LLC $27,459,700
Source: Connecticut Economic Resource Center
Phase 2 of $55M Meriden transit-
oriented development debuts
Developers have completed the second-
phase of a mixed-use, residential development
in Meriden near the city's Hartford Line train
station.
The Meriden Commons II project on State
Street, which broke ground in July 2018,
includes a four-story building with 49 residential
units, and two buildings consisting of 27
townhouse-style units, and more than 1,500
square feet of commercial space.
The new apartment buildings abut Meriden's
Hartford Line train station. Meriden Commons
II represents the second phase a multi-part
project.
Meriden Commons I, which was completed
in the summer of 2018, includes 75 residential
units and 5,400 square feet of commercial
space on 161 State St.
Most of the residential units (120 out of 151)
are designated as affordable housing; the rest
market rate.
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