4 Hartford Business Journal • June 15, 2020 • www.HartfordBusiness.com
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"We want to create a sense of community
and the possibilities of gathering in nice areas,"
Vosburgh said. "It also extends the town center
by about 900 feet on Route 10 and we feel it's a
very pleasing setting for residential use."
Vosburgh said he believes demand for apart-
ments in Greater Hartford will continue to
be strong especially as Connecticut housing
prices remain high, making it difficult to pur-
chase an affordable house that is also updated
with modern amenities, something his new
apartments will offer.
He said a recent consultant's analysis
concluded the units could lease up within a
year-and-a-half, and the sale of The Grand at
Ridgewood is a positive sign for the market.
Walkable community
Kenyon said Station 280 will complement
Granby's town center, which consists of small
shops and restaurants that serve as the com-
munity's commercial base.
A sidewalk has already been installed along
Salmon Brook Street from the town green to
Salmon Brook Park
and more sidewalks,
crosswalks and
decorative lighting
are planned to make
it more of a walkable
community.
The town center
has also added three
new restaurants in the
last few years and is
a major activity point
with the high school
and middle school,
town hall and senior
housing all nearby.
Kenyon said she's
not worried about the
apartment market in town becoming over-
saturated because Granby offers a unique life-
style and a differentiated rental product than
the rest of the region. It also has a good school
system, so she's hoping younger families may
choose to rent in town, come to like the com-
munity and eventually buy a home there.
Another project that debuted in recent
years was the 34 units at Greenway Village
Apartments on Mill Pond Drive, which has
also seen strong leasing activity, Kenyon said.
"I think Granby is a very unique town that of-
fers a lot of open space and outdoor recreation-
al opportunities that a lot of other towns that
have apartment developments don't necessarily
have," she said. "So I think folks who want that
type of lifestyle, it will attract them. "
Balletto, the realty broker, said another ad-
vantage for Granby's new apartments is that
they've put dozens of three-bedroom units
on the market, which are tougher to find in
Greater Hartford.
"I think the suburban Hartford apartment
market has done very well absorbing new
inventory," Balletto said. "Very few developers
build three-bedroom apartments."
>> Town Profile continued
Granby
General
Land area (sq. miles) 41
Median age 48
Population 10,951
Median household income $111,220
Unemployment rate 5%
Major Employers
Meadow Brook Nursing Home
Stop & Shop
Town of Granby
Imperial Nursery/Monrovia
Housing stock
Median price $296,800
Median rent $909
Government
Total revenue (2017) $49,373,122
Per capita tax $3,153
Actual mill rate 39.61
Grand List $990,233,050
Economy
Top employment industries Units Employment
Government 13 476
Retail trade 29 443
Health care and social assistance 26 321
Top taxpayers (2018)
Connecticut Light & Power $14,278,680
Granby Developers LLC $4,158,770
Upstream Developers LLC $4,087,230
Source: AdvanceCT
A map of the seven
buildings that
will house Station
280's planned 235
apartment units.
RENDERING
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