859-879 Congress Ave - WEST RIVER APPROVED DEVELOPMENT
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859-879 Congress Ave - WEST RIVER APPROVED DEVELOPMENT
1.99 Acres of Commercial Land Offered at $4,500,000 in New Haven, CT 06519
Investment Highlights
- Approved 194-Unit Multifamily Development Site
- 1.99 Acres in BA Zone
- Dynamic & Growing Market
- Apartment Rents in Submarket Exceed $3/SF/Month
- Zoning Allows for Many Uses Including Multifamily, Retail, Medical, Office, Parking & Outdoor Storage
- 0.7 Miles to Yale New Haven Hospital
Executive Summary
Northeast Private Client Group is pleased to present the West River Approved Development, a potential 194-unit apartment complex in New Haven, Connecticut. The site consists of nine parcels of land.
The West River Apartments Development has been approved for 194 units, with the current design offering a mix of seventy-two (72) studio units, eighty-eight (88) one-bedroom units, twenty-six (26) two-bedroom units, and eight (8) three-bedroom units. The approved development features plenty of amenities, including elevators, a full fitness center, an interior courtyard, an outdoor amenity deck, bicycle parking, and more. A new owner can modify the unit mix and amenities without needing new approvals.
The downtown New Haven market has seen strong rent growth in recent years, and this growth is projected to continue through 2025. Located just 0.7 Miles from Yale New Haven Hospital and the Yale School of Medicine, the property is ideal for Yale graduate students, hospital employees, and professionals working downtown or commuting nearby. It is also an excellent option as an affordable housing development. All residents will benefit from the property’s proximity to the dining establishments, and entertainment amenities that the city has to offer.
The West River Apartments Development has been approved for 194 units, with the current design offering a mix of seventy-two (72) studio units, eighty-eight (88) one-bedroom units, twenty-six (26) two-bedroom units, and eight (8) three-bedroom units. The approved development features plenty of amenities, including elevators, a full fitness center, an interior courtyard, an outdoor amenity deck, bicycle parking, and more. A new owner can modify the unit mix and amenities without needing new approvals.
The downtown New Haven market has seen strong rent growth in recent years, and this growth is projected to continue through 2025. Located just 0.7 Miles from Yale New Haven Hospital and the Yale School of Medicine, the property is ideal for Yale graduate students, hospital employees, and professionals working downtown or commuting nearby. It is also an excellent option as an affordable housing development. All residents will benefit from the property’s proximity to the dining establishments, and entertainment amenities that the city has to offer.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $4,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 1.99 AC |
| Price | $4,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 1.99 AC |
1 Lot Available
Lot
| Price | $4,500,000 | Lot Size | 1.99 AC |
| Price Per AC | $2,261,307 |
| Price | $4,500,000 |
| Price Per AC | $2,261,307 |
| Lot Size | 1.99 AC |
Fully Approved, 194-unit Multifamily Development Located in New Haven, CT.
Description
Located at 326-384 Davenport Avenue & 859-879 Congress Avenue, New Haven, CT.
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859-879 Congress Ave - WEST RIVER APPROVED DEVELOPMENT
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