Developers plan to bring luxury apartments, shops to New Haven

NEW HAVEN, Conn. (WTNH)– Developers are making a mark on New Haven, with plans to bring in hundreds of luxury apartments. The project Audubon Square will have 500 units with retail shops on Audubon and State Street, and 87 Union Street will get a makeover with nearly 300 apartments, restaurants and retail stores.

“I think anything that brings more people to New Haven is really great. It’s really an awesome area and lots to do here,” said Bella Gracy.

Related: New Haven development to pump more life into the city

1 Developers plan to bring luxury apartments, shops to New Haven

“It’s got great proximity to downtown and the new rail stations so we think it’s going to be a big success,” said Steve Fontana, Deputy Economic Development Director with the city. Fontana said the city works with developers to encourage affordable housing.

“There are developers who do incorporate affordable into their developments, but others simply say that they don’t want to do it, and that’s their right,” Fontana said.

So who will move into these luxury apartments?

“We are probably talking about a lot of grad students. We are talking people who work at Yale-New Haven Hospital, Yale university, and biotech companies. Baby boomers who are retiring, and some families,” Fontana said.

Coldwell Banker realtor Barbara Lehrer said there’s a need for more rentals in the city. “I think that in New Haven country and all the surrounding towns everything is older now. I think the condo market has a little bit declined because the condo fees don’t have a cap so people are looking at rentals,” said Lehrer.

Those who have their own business say more people moving into the city is a win-win.

“I’m a dog walker here so if those buildings allow dogs it is good for me,”  said Miranda.

“There are tens of thousands of apartments in New Haven already. It’s actually a small increase, but the experience with everyone who is coming to the city is that within a year they fill up.”

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s