NewHavenBIZ

n e w h a v e n b i z . c o m | O c t o b e r 2 0 2 1 | n e w h a v e n B I Z 17 280 Trumbull Street, 21st Fl Hartford, CT 06103 www.cushwake.com (860) 249-0900 Property 555 Long Wharf Drive 265 Church Street 195 Church Street 1952 Whitney Ave 59 Elm Street 100 College Street 108 Leigus Road City New Haven New Haven New Haven Hamden New Haven New Haven Wallingford Building Size SF Available 418,000 Square Feet 184,000 SF 282,000 Square Feet 14,100 SF 265,000 Square Feet 17,500 SF 54,000 Square Feet 8,140 SF 110,370 Square Feet 31,032 SF 536,250 Square Feet 4,807 SF 287,000 Square Feet 71,520 SF Current Rate $27.50 + elec $25.00 + elec $24.00 + elec $24.00 + elec $19.50 + elec $35.00 NNN $24.00 Gross Bob Motley, Senior Director 860.616.1432 Robert.Motley@cushwake.com Evan O'Brien, Senior Director 860.616.1437 Evan.O'Brien@cushwake.com EXCLUSIVE LISTINGS Office & Medical Credit: Gerald Wenner Credit: Photos by Dex Credit: Gather New Haven Your Giving Your Way Taking your giving to the next level A donor advised fund at The Community Foundation is your personal account for charitable giving. It offers you the flexibility to pool and invest a variety of charitable assets and the convenience of supporting charitable organizations when and where you choose. Learn more at cfgnh.org/dafnow or call 203-777-7071. Credit: Gerald Wenner Credit: Photos by Dex Credit: Gather New Haven Your Giving Your Way Taking your giving to the next level A donor advised fund at The Community Foundation is your personal account for charitable giving. It offers you the flexibility to pool and invest a variety of charitable assets and the convenience of supporting charitable organizations when and where you choose. Learn more at cfgnh.org/dafnow or call 203-777-7071. Credit: Gerald Wenner Credit: Photos by Dex Your Giving Your Taking your giving to the A donor advised fund at The Community is your personal account for charitable It offers you the flexibility to pool and of charitable assets and the convenience charitable organizations when and where Learn more at cfgnh.org/dafnow or call 203-777-7071. Credit: Gerald Wenner Credit: Photos by Dex Credit: Gather New Haven Credit: Christina Sutton-Goubourn Your Giving Your Way Taking your giving to the next level A donor advised fund at The Community Foundation is your personal account for charitable giving. It offers you the flexibility to pool and invest a variety of charitable assets and the convenience of supporting charitable organizations when and where you choose. Learn more at cfgnh.org/dafnow or call 203-777-7071. Square actually made history earlier as a project of William Lanson, a pioneering Black engineer and developer who bought land in what was once called the New Township area of New Haven. A statue of Lanson was erected on the Farmington Canal Trail last year. Italians from the Amalfi coast were drawn to the neighborhood in the early 1900s thanks to its proximity to major factories, and the tight-knit enclave survived urban renewal in the 1950s and 60s due to an early incarnation of community activism, Eyzaguirre said. "It's really become more diverse," Eyzaguirre said, citing changes in demographics citywide. Wooster Square's recent building boom, matched by new apartment complexes rising or planned across downtown and beyond, testifies to the continued strength of the region's rental market, said Jed Backus, president of the New Haven Middlesex Association of Realtors. Rental complexes in nearby towns are at capacity and the market is only beginning to stabilize aer a frenetic spring and summer. "ere is a supply-demand imbalance, and that's rippling out from New Haven," Backus said. With its traditional base of homes carved up into rentals and older apartment buildings, New Haven and Wooster Square are basically catching up to existing demand with new projects like Olive & Wooster. Occupancy for rental units in the city remained at around 90% at the end of September, said Economic Development Officer Kathleen Krolak. Drawn by the universities and biotech jobs, migrants to New Haven are seeking luxury rentals with amenities and the potential of a car- free life, Backus added. Cities out West and in other regions have trained younger renters to look for new construction with pools and gyms on- site and cafes and restaurants nearby. Wooster Square's development signals the approach of a new New Haven, Backus added. "New Haven is right on the cusp of being something that's fully walkable and livable," Backus said. "It's right on the verge of being able to sustain everything." Opportunity knocks for developer For Seid, the developer, Wooster Square met his criteria as an attractive area with unmet demand and available lots when he was first looking for deals outside of the five boroughs in 2017. "Everything that I learned about New Haven excited me more," he said. Seid is so enthusiastic about Wooster Square and the Elm City's prospects that he submitted a site plan in late September for a second project just down the street, at 20 and 34 Fair St. at project would create 186 units at similar price points, with the added attraction of lots of open space and an adjacent tree-lined greenway open to the public. "We're going to create something there that's going to be attractive to the community," Seid said. "I feel honored to be a part of it, honored to leave a mark on New Haven and Wooster Square." n A view from the corner of the Olive & Wooster rental complex, which features balconies overlooking the neighborhood. A rendering of the completed Olive & Wooster complex, the first project planned by New York developer Darren Seid.

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