MILFORD, CT — AvalonBay is selling its Milford property for $5.9 million. The 42-acre lot is located at 0 Wolf Harbor Road, according to a real estate listing.
The developer took the city to court about 20 years ago seeking the rights to build a senior housing complex at the site, according to The Milford Mirror. Plans were eventually approved that allowed building 160-age-restricted homes at the site.
The permits for building such a project are included in the $5.9 million price tag. The parcel’s listing agent told The Milford Mirror that the property could be developed as originally intended, but there has been interest in the property from a range of developers.
A real estate listing for the property calls it an “excellent development opportunity in the lovely waterfront community of Milford, CT.” It also notes that the parcel was previously approved for a 160-unit 55 and over community and is in “close proximity to the Wilber/Merritt Parkways, Milford Connector to I-95 and the Housatonic River.”
The property is also being offered “as a single-family lot subdivision per the current zoning regulations with a quick close.”
AvalonBay is a national developer with residential developments in California, Florida, Texas, Maryland, and elsewhere. In Connecticut, AvalonBay has a presence in several towns like Shelton, Fairfield, Darien, Wilton, and New Canaan.
