Middletown’s former high school, converted decades ago into senior affordable housing, is close to wrapping its two-year, $6.2 million renovation.
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Middletown's former high school, converted decades ago into senior affordable housing, is close to wrapping its two-year, $6.2 million renovation.
The 65-unit Romanesque Revival-style edifice at 251 Court St. received extensive exterior and interior upgrades, according to Massachusetts nonprofit landlord Preservation of Affordable Housing (POAH), which acquired the property in March 2014.
Listed on the National Register of Historic Places, the Old Middletown High School Apartments previously was the city's second high school until 1973.
Among the improvements to be fully completed in 2016 are all new windows and roof; kitchen and bath upgrades to all units; creation of six units compliant with Americans With Disabilities Act standards; new fire protection; modernized elevators; new gas-fired boilers; and new flooring and lighting in common areas.
Included in the renovation financing package was $4.33 million of low-income housing tax credits, via the Massachusetts Housing Investment Corp. and investor TD Bank, POAH officials said. The Connecticut Housing Finance Authority also pitched in with a construction/permanent loan and 4 percent housing tax credits.
POAH said its mission is providing affordable rents for its low-income senior and disabled residents.
$3.8M Rocky Hill apt. sale
The 41-unit Worthington Arms apartments in the center of Rocky Hill recently sold for $3.8 million, brokers say.
Redding homebuilding contractor Sunset Hill Restoration acquired the garden-style complex at 100 and 200 Laura Lane from Rocky Hill's Worthington Properties LLC.
Located near the Connecticut River Ferry and the Silas Deane Highway, Worthington Arms contains a mix of large one- and two-bedroom units, with full basement storage in its two buildings.
Colliers International represented both parties in the sale.
$1.8M Rocky Hill office sale
A 25,200-square-foot Rocky Hill office building has sold for $1.8 million, brokers say.
Redding building contractor Sunset Hill Restoration bought the edifice, known as the Worthington Building, at 748-750 Old Main St. from Rocky Hill's Worthington Properties LLC.
The Worthington was 95 percent leased at the time of the sale, according to sole broker Colliers International.
The property has suites ranging from 505 square feet to 4,300 square feet.
Cromwell’s SCB Plaza sold
The 28,000-square-foot Cromwell retail property known as SCB Plaza has sold for $2.45 million, brokers say.
JMM Properties of Hamden bought the plaza on 3.9 acres at 199 Shunpike Road from 199 Shunpike Road LLC, according to sole broker Pearce Real Estate.
Namco’s $2.3M Enfield lease
Manchester's Namco LLC signed a long-term lease valued at $2.3 million for 102,000 square feet in the Enfield Distribution Center, brokers say.
Namco will use the facility at 35 Manning Road to warehouse and distribute its swimming-pool, patio and game-room supplies and accessories, according to Colliers International, broker for landlord Enfield Distribution Center LLC.
Retail broker SullivanHayes represented Namco.
Deal Watch wants to hear from you. E-mail it, along with contact information to: gseay@HartfordBusiness.com.
Gregory Seay is the Hartford Business Journal News Editor.
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