A Pittsburgh-area developer has paid $3 million for 22.1 acres in a Rocky Hill business park.
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A Pittsburgh-area developer has paid $3 million for 22.1 acres in a Rocky Hill business park, months after town officials approved plans for a 153-unit apartment complex on the site.
In April, the town’s Planning and Zoning Commission unanimously signed off on A.R. Building Co.’s plan to build three, four-story apartment buildings at 200 Capital Blvd., in the Corporate Ridge business park. The plan also calls for a pool and clubhouse.
In a deed recorded Sept. 26, Corpridge Land Co. sold 200 Capital Blvd., to a limited liability company whose principals — Keith Lenhart and Daniel J. Mancosh — are officers of A.R. Building Co. The undeveloped property is located right off Interstate 91.
A.R. Building Co., established in Pittsburgh in 1968, owns and manages more than 9,000 rental units across 50 properties in 15 states, according to the development application submitted with
Rocky Hill last year. Today, the company maintains a headquarters in Seven Fields, a borough north of Pittsburgh.
The company has become increasingly active in Connecticut.
In a deed recorded on Sept. 24, A.R. Building Co. paid $3.35 million for 11.9 acres in Windsor. And like the Rocky Hill property, this one is also right of I-91.
Windsor officials had previously approved A.R. Building Co.’s plan for a four-building, 201-unit apartment complex.
The company has also completed projects in New London, Groton and Meriden.