Hartford Business Journal

6 Hartford Business Journal • March 23, 2020 • www.HartfordBusiness.com Cheshire's grand list growth rate doubles as new projects, incentives spur growth By Greg Bordonaro gbordonaro@hartfordbusiness.com M any municipalities brag they've seen positive eco- nomic development activity in recent years but not all of them have real data to back it up. Cheshire does. The town recently reported that its annual grand list as of Oct. 1, 2019, grew 1.52%, which was double the growth rate from a year earlier. While that may not seem like a big gain it is in Connecticut. In fact, the average municipal grand list growth rate in Connecticut during the 2016-17 fiscal year was 0.8%, while the median growth rate was 0.66%, according to the latest statewide data available from AdvanceCT and the CT Data Collaborative. Cheshire Town Manager Sean Kim- ball said his town usually averages 0.7% annual grand list growth but a spate of new economic development projects helped boost real estate values. "We had a very good year," he said. Town Economic Development Co- ordinator Jerry Sitko said Cheshire has seen growth from a diversity of projects ranging from medical office buildings and retirement communi- ties to new warehouses and restau- rant expansions. A reasonable mill rate of 33.22 com- bined with a wealthy population and a well-honed and recently expanded business incentive strategy have helped attract new business develop- ment, he said. "We are seeing a really healthy mix of activity, which is good," Sitko said. Here's a look at several recent projects in town: • In September, Hartford Health- Care debuted a new 50,000- square-foot, two-floor medi- cal office at 280 South Main St., site of the former Cheshire Cinema. The project had a $15-million price tag and the facility is being used to treat individuals with Parkinson's disease and other movement disorders, head pain, and provide physical rehabilita- tion, as well as primary care, cardiol- ogy, dermatology and clinical space for more than 20 specialties. • Avon-based Constitution Sur- gery Alliance has plans to build a 75,000-square-foot surgical cen- ter and medical office complex in an industrial park on West John- son Avenue. Hartford HealthCare will also have a presence in that facility, Sitko said. • The Marbridge Retire- ment Center is undergoing a 46,350-square-foot expansion. • Climate Engineering Cos. has been approved to build a 30,720-square-foot maintenance and warehouse facility. • Counterweight Brewing recently announced it will move from Hamden to Cheshire, giving the town its first brewery. • Viron Rondo Osteria, a popular Ital- ian restaurant in town, completed a 4,500-square-foot expansion. • The former Ball and Socket Arts industrial property off West Main Street is being remediated and renovated into a multi-pur- pose arts and commercial venue. Untapped opportunity Sitko said the town has taken several measures over the years to position itself for growth. It has had a property tax-break program since 1994 and provides as- sistance for some off-site infrastruc- ture improvements. More recently, in 2019, the town created a tax incremental financing (TIF) district in its north end to spur development on 329 acres where I-691 intersects with Route 10. Sitko said that site is one of the last remaining undeveloped inter- changes in Connecticut. As part of the TIF structure, reve- nue from future development within the district can be used to support off- and on-site improvements. "Over decades that's been the primary focus for Cheshire in terms of our best chance at significant develop- ment," he said of the TIF district. "It's on the outskirts of town so it doesn't have as much of an impact on traffic." The TIF district includes public and private land zoned for commercial and residential use and there have been development proposals there before, including a mall and luxury shopping center, but they never came to fruition. Westport's Charter Realty & De- velopment is currently leasing part of the land — 107 acres — owned by Cheshire-based Tri-Star Development LLC, which has options for mixed-use development that could include hotel, residential, restaurant or retail uses. "We've had an all-the-above strategy with respect to economic development," said Kimball, the town manager. The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For over 50 years, our clients have trusted us to deliver end-to-end facilities solutions, so they can focus on their core business. Experts in: Facilities Services, Preventive Maintenance Programs, Onsite Operations & Maintenance NEMSI SERVICE SOLUTIONS INCREASE PRODUCTIVITY. 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