NEW HAVEN, Conn. (WTNH) – The New Haven Board of Alders has approved a new plan to redevelop a former transit station into a new tech-business campus.
The New Haven Board of Alders voted Monday night to approve a development and land disposition agreement to dispose of the former transit property located at 470 James Street to the locally based partnership of David Salinas, of Digital Surgeons, and Eric O’Brien, of Urbane of New Haven LLC. The plan is to redevelop the land into a business campus, with a focus on technology companies.
Connecticut Senate President Martin Looney cited the importance of bringing technology jobs to the area.
Innovation is critical to Connecticut’s economic competitiveness. One of the direct benefits the City hopes to realize from redeveloping the site is the retention and the expansion of existing and dynamic City businesses and the attraction of new enterprises. In addition, I am pleased that the developer has committed to working with City and other partners to assist in creating a much needed Tech-career ladder.”
According to city officials, the 6.5-acre property is currently vacant and because it is owned by the state, is tax exempt. It is anticipated that once developed, the site will result in new real and personal property taxes. The developer has committed to work with New Haven Works to give priority to hiring local residents.
“Putting city land back on the tax roles and creating economic opportunities for residents is one of the priorities of my administration,” said New Haven Mayor Toni Harp. “This redevelopment will do just that by retaining close to 100 jobs and creating a new home for businesses to hire an estimated 200-300 new jobs at all skill levels.”
According to the city, of the current 195,000 Square feet; 100,000 sq feet will be kept and restored, 5,000 sq feet of new construction will be added, and the remaining 95,000 sq feet will be demolished for remediation. The state has granted $5.5 million in remediation money to clean up the site.