A new multifamily housing complex near the village center in Haddam is ready for occupancy, with strong demand as nearly half the units are already leased.
The Bridge Road Commons, at 105 Bridge Road, is a two-story, 44-unit project, with 41 one-bedroom apartments and three, two-bedrooms. Nine units are deemed affordable at 80% of the area median income.
The $10 million project started in 2021, after the developers bought the vacant lot for $680,000.
The development team includes Joseph Sullo, of commercial real estate development firm Staypoint, Steven Rak, of Rak Realty, Sal Indomenico, of ISC LLC, and Gianni Zarrilli, of Zarrilli Enterprises.
Sullo said the building earned its certificate of occupancy earlier this summer and within one month, had leases signed for nearly half the units. Today, 22 apartments are leased and 18 people have moved in, Sullo said.Â
The complex features a community room, fitness center and walking paths that lead to the nearby Haddam village center, where some shops, restaurants and the Goodspeed Opera House are located.
Haddam, with its population of 8,500, is located in the lower Connecticut River Valley and isn’t as booming a multifamily market as New Haven or other suburban metro towns that have seen hundreds, or even thousands of apartments come online or proposed in the last 10 years.Â
But Sullo said there has been strong demand for the few new housing developments, such as Bridge Road Commons, attracting mainly older couples or emptynesters who are looking to downsize into a modern apartment near the center of a quiet town. Â Â
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