NewHavenBIZ

14 n e w h a v e n B I Z | M a y 2 0 2 2 | n e w h a v e n b i z . c o m Wealthy shoreline hamlet Guilford aims for more affordable housing By Christopher Hoffman G uilford has a problem most of the state's 169 towns and cities would kill for: virtually no vacant retail space. "I look at other towns that have empty storefronts," Economic Development Director Sheri Cote said. "We just don't have that." It's just one aspect of the community's enviably robust economy. In addition to a strong retail sector, seemingly in defiance of COVID-19 and the shi to online shopping, the scenic town of 22,000 on Long Island Sound sports a robust manufacturing sector, important biotech research institute, Yale New Haven Health facilities, numerous eateries, the popular Bishop's Orchards and a booming housing market. Businesses and potential residents are beating down the doors to move to town, town officials say. "e shoreline is very, very hot," said Ken Horton, owner of e Horton Group, who has done large commercial and residential projects in Guilford in recent years. "I've never seen anything like it. e only mistake I made in the last five or 10 years is not buying more property in Guilford." What's Guilford's secret? First Selectman Matthew Hoey cites a variety of factors, including an excellent school system, AAA bond rating and large budget surplus. en there's the many recreational opportunities afforded by Long Island Sound, the town's bucolic downtown green fringed by thriving shops and restaurants and a strong sense of community, Hoey said. Finally, there is Guilford's excellent location on Interstate 95 and its proximity to New Haven, a major source of jobs, he said. "e town is in strong economic shape," Hoey said. So strong that, in addition to having very little retail vacancies, Guilford has limited land open for development, although Hoey and Cote said the town is working hard to market what is available. Another brake on further development: Guilford has no sewers, limiting the size of what can be done, they said. Housing boom e sector seeing the most expansion is housing, Cote and Hoey said. "at's really our main source of development," Cote said. A number of apartment and condominium projects have been built in recent years, or are under construction, they said. In addition, a proposal for a 102-unit apartment complex on Hubbard Road is making its way through the approval process. irty percent of the units will be affordable. e project is the first in town under a new state law that waives zoning regulations in certain municipalities for developers who set aside at least 30 percent of units as affordable. Hoey and Cote both embraced the complex, saying it will provide much- needed housing for the elderly and young people who can't afford the town's high rents. "It's a unique opportunity," Hoey said. "It will address the need for elderly and transitional housing. It allows for a more affordable entry level into Guilford." Horton is building one of the larger housing projects, a luxury condominium complex at 66 High St., near the town green. e first three T O W N S P O T L I G H T | G u i l f o r d Guilford's downtown is filled with mostly occupied storefronts despite the pandemic's negative impact on small businesses, particularly retailers and restaurants. PHOTO | CONTRIBUTED The Jacob's Beach Boardwalk in Guilford. PHOTO | CONTRIBUTED Matthew Hoey

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