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.
“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.”