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10 Hartford Business Journal • December 21, 2015 www.HartfordBusiness.com 21-Dec ECONOMICS Land area (sq. miles) 12 Business profile (2013) Pop./sq. mile (2011) 1,135 Sector Units Median age (2011) 44 Construction 37 393 Households (2011) 5,544 Manufacturing 16 428 Median HH Inc. (2011) $80,134 Retail Trade 49 1,184 57 1,626 Population (2012) 47 1,041 2000 12,871 Total Government 14 630 2010 13,888 Local/Municipal Government 12 597 2012 14,059 2020 14,854 LABOR FORCE Commuters (2011) Race/Ethnicity (2012) Commuters into town from: White 12,474 Middletown 696 174 Black 934 Cromwell 686 169 Asian Pacific 424 New Britain 392 167 Native American 0 Town % State % Meriden 253 157 Other/Multi-race 227 3,123 30% 28% Hartford 253 Hispanic 565 782 7% 7% 3,998 38% 36% Labor Force (Residence) 8,010 HOUSING 7,503 Housing stock (2012) GOVERNMENT 507 Existing units (total) 5,732 6.3% % single unit 71.0% New permits auth. (2012) 42 Place of Work (2013) as % existing units 0.73% 454 Demolitions (2012) 2 6,967 Residential sales (2011) 81 428 Median price $291,000 TOP 5 GRAND LIST Top 5 Employers Company Amount % of Net $22.6M 1.8% $15.3M 1.2% Connecticut Light & Power $12.4M 1.0% Infinity Cromwell Prop $10.4M 0.8% Shaner SPE Associates $8.0M 0.6% Bachelor's or more Equalized net grand list (2010) Pligrim Manor Care Ctr as % of state average 93% Auroa Senior Living - Cromwell per capita $135,520 Covenant Village of Cromwell $2,657 Mayor-Council-Manager $45,433,565 Algonquin Gas Transmission LLC Covenant Home Inc. $2,028 $1,905,273,841 8.6% $3,908,438 89.9% Employed Unemployed 62.8% Government form as % of expenditures Unemployment Rate # of units Total Employment Manufacturing Employment Total revenue (2012) Per capita tax (2012) $28,514,864 Total indebtedness (2012) Total expenditures (2012) as % of state average $46,063,164 Health Care and Social Assistance Berlin Manchester Newington Rocky Hill Accommodation and Food Services Employment Walmart Super Stop & Shop Cromwell 41 West St., Cromwell, CT 06416 (860) 632-3410 Annual debt service (2012) as % of expenditures as % of state average per capita Educational attainment (2012) Persons age 25 or older High school graduate Associate's Degree 102.9% CROMWELL Town Hall: 41 West St., Cromwell, CT 06416 (860) 632-3410 TOWN PROFILE Source: Connecticut Economic Resource Center, www.cerc.com Old Middletown H.S. Apts.' $6.2M facelift nearing end M iddletown's former high school, converted decades ago into senior affordable housing, is close to wrap- ping its two-year, $6.2 million renovation. The 65-unit Romanesque Revival-style edifice at 251 Court St. received extensive exterior and interior upgrades, according to Massachusetts nonprofit landlord Pres- ervation of Affordable Housing (POAH), which acquired the property in March 2014. Listed on the National Register of Histor- ic Places, the Old Middletown High School Apartments previously was the city's sec- ond high school until 1973. Among the improvements to be fully completed in 2016 are all new windows and roof; kitchen and bath upgrades to all units; creation of six units compliant with Ameri- cans With Disabilities Act standards; new fire protection; modernized elevators; new gas-fired boilers; and new flooring and light- ing in common areas. Included in the renovation financing package was $4.33 million of low-income housing tax credits, via the Massachusetts Housing Investment Corp. and investor TD Bank, POAH officials said. The Connecticut Housing Finance Authority also pitched in with a construction/permanent loan and 4 percent housing tax credits. POAH said its mission is providing affordable rents for its low-income senior and disabled residents. $3.8M Rocky Hill apt. sale The 41-unit Worthington Arms apart- ments in the center of Rocky Hill recently sold for $3.8 million, brokers say. Redding homebuilding contractor Sunset Hill Restoration acquired the garden-style complex at 100 and 200 Laura Lane from Rocky Hill's Worthington Properties LLC. Located near the Connecticut River Ferry and the Silas Deane Highway, Worthing- ton Arms contains a mix of large one- and two-bedroom units, with full basement stor- age in its two buildings. Colliers International represented both parties in the sale. $1.8M Rocky Hill office sale A 25,200-square-foot Rocky Hill office building has sold for $1.8 million, brokers say. Redding building contractor Sunset Hill Restoration bought the edifice, known as the Worthington Building, at 748-750 Old Main St. from Rocky Hill's Worthington Properties LLC. The Worthington was 95 percent leased at the time of the sale, according to sole bro- ker Colliers International. The property has suites ranging from 505 square feet to 4,300 square feet. Cromwell's SCB Plaza sold The 28,000-square-foot Cromwell retail property known as SCB Plaza has sold for $2.45 million, brokers say. JMM Properties of Hamden bought the plaza on 3.9 acres at 199 Shunpike Road from 199 Shunpike Road LLC, according to sole broker Pearce Real Estate. Namco's $2.3M Enfield lease Manchester's Namco LLC signed a long- term lease valued at $2.3 million for 102,000 square feet in the Enfield Distribution Cen- ter, brokers say. Namco will use the facility at 35 Man- ning Road to warehouse and distribute its swimming-pool, patio and game-room sup- plies and accessories, according to Colliers International, broker for landlord Enfield Distribution Center LLC. Retail broker SullivanHayes represent- ed Namco. n Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com. Gregory Seay is the Hartford Business Journal News Editor. Gregory Seay DEAL WATCH (Left) Old Middletown High School Apartments, Middletown. (Center) Worthington Arms, 100-200 Laurel Lane, Rocky Hill. (Right) Worthington Building, 748-750 Old Main St., Rocky Hill. P H O T O S | C O N T R I B U T E D