149 Derby Avenue, New Haven

149 derby apt rendering

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149-169 Derby Avenue, New Haven

NHG acquired this 40,000 sf industrial building on 1.58 acres in New Haven that functioned as a professional laundry facility for over 60 years in 2021. The site was subsequently brought through the entitlement process and was approved for 64 units an Affordable housing development. In a complex transaction, NHG acquired the site that involved multiple corporate parties. The site was contaminated and involved significant due diligence. NHG’s plan was for an affordable housing complex and ultimately brought in an Affordable housing developer to achieve the tax credits to develop the site. NHG sold the site to the Affordable housing developer in May 2024 and construction is commencing summer of 2024 to build 64 units in a 100% affordable apartment complex.

The redeveloped site will be a major boost to the West River neighborhood.

Highlights

Great gateway site to West River

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