Vernon land approved for multifamily development listed for sale

A 24.3-acre lot in Vernon that has been approved for a multifamily development has been listed for sale.

The property at 14 Hyde Ave., has been listed without an asking price. According to marketing materials, the land already has approvals for a 174-unit, market-rate apartment development with a mix of one- and two-bedroom units. 

Marketing materials also tout the property’s location, which straddles the Tolland town line and is 18 minutes away from UConn’s main Storrs campus, which has been facing a housing shortage.  

The property is owned by Hyde Park LLC, which is controlled by Manchester developer Richard P. Hayes Jr. and Patricia Faby.

The property currently has a market value of $104,030, town records show. 

The listing broker is Brendon Mansaku (brendon@smrea.com), managing broker of SM Real Estate Advisors.