A property in downtown Middletown approved for a multifamily development has been listed for sale at $2.5 million.
The site, at 339 Main St. is a 50,000-square-foot, mixed-use building that has been approved for redevelopment into 42 residential units.
It’s being sold by New Haven-based Upscale Construction after the company spent several years working on the redevelopment of the site. Upscale bought the property in 2022, and brought in architect Fernando Pastor.
The plan approved by the city includes the existing LaBoca restaurant on the ground floor, as well 1,600 square feet of new retail space. The top floors of the building have been empty since the closure of a Bob’s Surplus store.
The downtown location is close to Wesleyan University and also sited in a federal Opportunity Zone.
In March, the Planning and Zoning Commission raised questions over parking for the planned number of residents in the 135-year-old building. Realtor Brad Balleto says that those concerns were addressed by securing an agreement with a garage on Broad Street.
“We’ve been very pleased with the response we’ve gotten. It’s the best block in downtown Middletown,” Balletto said of prospects for a sale. ”It’s a very vibrant location.”
The downtown development is one of several active redevelopment projects currently in Middletown. The city is working on a riverside site on Dekoven Drive with tentative plans for 277 units along with restaurant and retail spaces.
Earlier this year, tenants began moving into the first phase of a new 480-unit luxury apartment complex off Newfield Street.
