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8 HARTFORDBUSINESS.COM | AUGUST 25, 2025 DE AL WATCH They actually do what they say they are going to do," Barnhart said. Skala's work extends beyond Fairfield County. In Farmington, construction is expected to wrap up in October on The Olmsted Farmington, a four-story, 204-unit apartment building at 80 Batterson Park Road. In 2016, the firm completed an 18-unit apartment building at 24 N. Main St., in West Hartford. Looking ahead, Skala is exploring multi- family housing opportunities in other parts of Connecticut, targeting markets with the strongest demand, Koutouvides said. In addition to its apartment devel- opments, the firm owns several office properties. Playing through cycles Koutouvides said rising interest rates have made financing more challenging, but it hasn't forced his firm to alter or cancel projects. He expects borrowing costs to ease as inflation slows. Skala typically relies on project funding from local and regional banks, private investors and family offices. Koutouvides said building multi- family housing that aligns with a town's needs, earns resident support and meets zoning requirements is complex in any market. "I think in general, people don't really appreciate how difficult it is to actually build something," he said. "I just don't think people understand development and construction well enough." The interior of an apartment inside The Olmsted Farmington. Photo | CoStar Developer eyes Windsor office-to-apartment conversion as town weighs new redevelopment regs 1 Waterside Crossing, Windsor. Photo | CoStar By Michael Puffer mpuffer@hartfordbusiness.com A New Hampshire-based devel- oper is under contract to buy a vacant 92,000-square-foot Windsor office building, at 1 Waterside Crossing, and is asking town officials to adopt new regulations enabling the property's conversion into apartments. The request from Brady Sullivan Properties comes as local officials seek to implement recommendations from a six-month study of the flagging 3,300- acre Day Hill Road Corporate Area. The primary economic engine of Windsor, the Day Hill Road corridor occu- pies 18% of the town's land mass and is predominantly occupied by industrial buildings and large office complexes. The COVID-19 pandemic acceler- ated the acceptance of remote work, emptying many of the town's office buildings. In 2019, 34.7% of the town's office space was vacant, according to CBRE. That jumped to 59.1% in the first quarter of 2024. In response, town officials hired New York-based economic development firm Camoin Associates to study how best to reposition the district. That's led to the development of two new proposed regulations that would allow much greater flexibility for developers, especially when it comes to adding multifamily housing to the area. Town planning staff and Brady Sullivan Properties jointly drafted a new "adaptive reuse" regulation that, on July 12, was presented to the Planning and Zoning Commission. Attorney Carl Landolina, representing Brady Sullivan, told the commission the developer has completed office-to- apartment conversions in several states, and had been seeking an opportunity in Windsor before securing a contract to purchase the vacant building at 1 Waterside Crossing. "When we looked at the regulations, we found there wasn't anything that would allow this kind of adaptive reuse in this area," Landolina said of Brady Sullivan's conversion plans for 1 Waterside Crossing. At present, the corridor is predomi- nantly industrially zoned, allowing for office buildings, research laboratories, manufacturing, breweries and ware- houses. Community recreational uses and hotels are also allowed with a special permit. The proposed regulations coming before town officials would not replace existing zoning, but overlay it, allowing for the conversion of underused office buildings. These zoning proposals target the north side of Day Hill Road, where most of the larger office buildings are concentrated, noted town Economic Development Director Patrick McMahon. The Camoin study recommended that town officials continue fostering a concentration of manufacturing, flex industrial and warehouse uses on the south side of Day Hill Road, McMahon said. "The idea is to really focus on areas with more significant office vacancies," McMahon said. "We are not throwing anything out with the bathwater here." The adaptive reuse regulations would allow for the conversion of office build- ings that have been at least half vacant for one year or longer. They would allow one housing unit for every 1,000 square feet of building space. So, a 90,000-square-foot building would allow for up to 90 units. Acceptable new uses would include apartments, condos and assisted living facilities, along with offices, bank branches, research labs, extended-stay hotels, restaurants and recreation facilities. Retail uses would be confined to 20% of a property floor area, or 20,000 square feet, whichever is less. The adaptive reuse regulations allow for the addition of relatively small accessory buildings, such as apartment amenity buildings. Patrick McMahon Family Matters Continued from page 7 In addition to 1 Waterside Crossing, the new regulations would apply to several other underused office properties, including: • 1 Griffin Road North — A 457,396- square - foot office building on 72.9 acres owned by The Hartford, which consolidated out of the building in 2022. • 1 Orange Way — A 470,000-square-foot office on 76.8 acres that Voya Financial put on the market in August 2022. • 500 Day Hill Road — A 20.64-acre prop- erty with a 99,000-square-foot building that business office equipment supplier Konica Minolta put up for sale in 2022. • 200 Day Hill Road — A 55,470-square- foot, three-story office building on 4.6 acres. • 300 Day Hill Road — A 71,380-square- foot, three-story office building on 9.3 acres. 'Active conversations' Town staff are also proposing a Day Hill Design Development Process — a two-step review for redeveloping large sites, including beyond their existing building envelopes. The process, nicknamed DH3D, would permit a mix of uses, including office, research and development, residential, retail, hospitality, and commercial and recreational projects. Under the process, developers would first seek conceptual approval, followed by a second review for final designs. The adaptive reuse proposal is scheduled for further review, and possible approval, by the Planning & Zoning Commission in September. A public hearing on the DH3D regulations is expected in October. The Day Hill corridor's strategic location along Interstate 91 between Hartford and Springfield, and its prox- imity to Bradley International Airport, continue to make it an attractive spot to land investment, McMahon said. Town staff are in "active conversa- tions" with multiple developers and property owners considering projects in the area, demonstrating its continuing geographic advantage, he said. "Our goal was to prepare a roadmap for the community to ensure that the corridor remains an economic driver while allowing some opportunities for residential and mixed-use development," McMahon said.