What's New in New England:
2023 is shaping to be a productive and profitable year for New England real estate developers as several new projects spanning various asset classes get underway. Here’s a look at some of the mixed-use and residential projects in the pipeline.
Mixed-Use Development in Maine
Boston-based firm Wilder, alongside owner and developer Waterstone Properties, plans to partner on the construction of Rock Row - a 2-million sq. ft. mixed-use property in Portland, Maine. The firms will oversee each new development phase, including the addition of millions of square feet of retail, office, and hotel space. The development of a nearby medical campus and residential units is also underway in the area, with 350 new apartment units expected to open in the summer of 2024.
Affordable Housing Project in Connecticut
Real estate developer and founder of Honeycomb Real Estate Partners, Lewis Brown, has announced plans for a new affordable housing project named The Camelot in West Hartford. Brown and his partners at WHI Camelot LLC aim to create a reimagined community on the property, which was once home to the West Hartford Inn (900-904 Farmington Avenue). The project will include the construction of one- and two-bedroom affordable apartment units.
Portland Welcomes New Rental Housing
Port Property Management and West Bayside Housing plan to develop 800 rental housing units in Portland’s Bayside neighborhood. The development comes at a time of heightened demand for rental housing in the area and aims to satisfy some of this demand for Portland’s existing residents and potential newcomers.
