Preservationists Battle Developers over Connecticut Real Estate
Real estate investors all over the county can learn some great lessons from what’s happening in New Haven, CT right now and local homeowners and buyers should be paying attention to how it can affect them too. The first issue is the battle over land and architecture in the Dwight Street Historic District. Here preservationists are pushing back against new building plans and homeowners failing to keep up their homes to maintain the area’s character and zoning laws while developers seek easier rules and a streamlined building process for future projects. On the other hand New Haven city officials are making a $30 million pitch to the Senator to tear down old public housing and rebuild in a style similar to Quinnipiac Terrace. The desire is to provide better affordable housing which is lighter and brighter includes more ownership and a better mix of residents and drive down crime. Some fear this could have a negative impact on some of those families displaced during the rebuilding, though they can take their housing vouchers elsewhere. This could potentially increase local demand for affordable rentals in New Haven. These are all important considerations for real estate investors, not just for watching how these two battles play out but how to invest for maximum profit with minimum challenges anywhere. Will preservationists battle against and hold up your development plans or could you be situated in an area and niche in which local government wants to help develop and will make it easier for you?
There are two pitched battles going on over Connecticut real estate right now. What do they mean for New Haven locals and real estate investors everywhere?