AGREEMENT FOR THE FORMER NEW HAVEN COLISEUM SITE UNANIMOUSLY APPROVED TONIGHT BY BOARD OF ALDERMEN
(12/2/2013) Second Phase of Downtown Crossing Moves Forward; Will Create Thousands of Jobs and Significantly Add to New Haven’s Tax Base
(New Haven, CT) The New Haven Board of Alderman voted unanimously tonight to approve the Development and Land Disposition Agreement between the City and LiveWorkLearnPlay (LWLP), the team that was chosen in 2011 as the preferred developer for the former Coliseum site.
“The Board of Aldermen’s vote of approval represents the culmination of over two year’s worth of work, engaging city and state leaders and – more importantly – residents of New Haven,” stated Mayor John DeStefano, Jr. “This project will create significant tax revenues for the City together along with construction and permanent jobs and will have a long term effect of revitalizing an underutilized area within the central business district as well as helping to create the conditions necessary for future commercial development throughout the city.”
The nearly $400 million dollar (including $33 million in infrastructure improvements), transit oriented, mixed-use, mixed-income development will include 75,000 square feet of retail, 700 residential units, and a 200,000 square foot class A office building, community gathering place, underground parking, and a hotel.
The Project calls for attracting over 35 new small to mid-sized permanent businesses and up to 20 seasonal incubator businesses, along with a mix of quality housing options ranging from low, moderate and workforce housing options. In addition, the project will generate approximately 4,700 construction jobs over the seven to ten years of project build-out beginning in 2014. The Developer will be working with the City ensure local New Haven residents and businesses have the opportunity to participate in this project. Most importantly, the Project will generate 2,800 permanent jobs at full operation. Once again the Developer is committed to working with the City and New Haven Works to ensure employment opportunities for residents.
The plan represents Phase II of New Haven’s Downtown Crossing project, the highway removal project that will reconnect Union Station, the Medical District and the Hill neighborhood to Downtown New Haven. In this next phase, we will rejoin South Orange Street across the current Route 34 towards Union Station along an at-grade street for pedestrians, cyclists and automobiles.
This almost $400 million project represents a milestone for the City, demonstrating that the New Haven market and economy is strong an growing stated Kelly Murphy, the City’s Economic Development Administrator.