SHELTON — With Constitution Boulevard extension work nearly underway, the city has secured deals with companies to buy land on the Mas property and adjacent city lots to which the new road will connect.
The Board of Aldermen, at its meeting last week, approved four deals, in which the city will sell some 26 acres for a total of nearly $2.4 million. Mayor Mark Lauretti said the city purchased the Mas property for $600,000 in 1996.
“I think the goal for all of us is to sell property,” Lauretti said. “We paid very little for it, and by selling this land, it will be a windfall for the city. But it will be a bigger windfall for the taxpayers by putting buildings on the property and collecting taxes on all that personal property and real estate for the next 40 years. That’s the real silver lining here.”
The price for the land ranges from $85,000 to $125,000 per acre to various groups for use in industrial and retail capacities.
Lauretti said he placed the $85,000 per acre price on the land after discussions with the city’s appraisal company. He said the acres being sold are “raw land. There’s no utilities, and its rough terrain. A lot of sitework will be needed” he said, adding “The price is reflected in the condition of the land.”
Lauretti said three of the sales are in the heart of the Mas property, but a parcel bordering Bridgeport Avenue carries the higher, $125,000 per acre price tag. The recent realignment of Constitution Boulevard allowed the city to sell to a retail operation because of the location along Bridgeport Avenue, Lauretti said.
Lauretti said Constitution Manufacturing, already Shelton-based, specializes in steel manufacturing and plans to build a 40,000 square foot building.
Barone Ventures, LLC, plans to move its industrial, manufacturing and corporate offices to the site. The company has informed Lauretti that it plans to build a 150,000-square-foot building for its operations.
Kyma, LLC, specializing in interior audio design and consulting, plans to build a 50,000-square-foot building.
The final property, adjacent to Bridgeport Avenue, is planned for retail.
These deals come after the city agreed to sell six acres to William and Nicole Charney, owners of Shelton-based Advanced Home Audio, which is presently located on Long Hill Cross Road.
The couple agreed to pay the city $85,000 per acre, which comes out to $510,000. The aldermen’s approval states the total acreage and payment amount will be determined after the final subdivision of the nearly 70-acre parcel near Constitution Boulevard.
Lauretti said, from his understanding, the company would be consolidating its operations on the purchased land.
The city has also reached a deal with Bigelow Tea, which agreed to purchase 25 acres of the property for an estimated $2.1 million for its future expansion.
brian.gioiele@hearstmediact.com
