New Haven - Multifamily Development Opportunity

Description:

240 Winthrop Avenue in New Haven. Acreage: 4.99 Acres or 212,364 Sq. Ft. Includes a 2nd parcel at 790 George Frontage: 406 Ft +/- frontage on Winthrop Ave. 41.0 Ft +/- on George Zone: RM1 [Winthrop] & RM2 [George] with PDD Overlay PDD 128 Units - 4 Buildings [Prior Approval 2019] Utilities: Public Water, Public Sewer, Storm Water - Natural Gas - High Speed Internet. Topography - Level Flood Zone: Zone X flood Zone Incentives for the Development of IZ Affordable Units. (1) FAR Bonus. The Inclusionary Development is entitled to a bonus in FAR of up to 25 percent over the permitted FAR in the underlying zone in which the property is located but may be otherwise limited by height restrictions and other bulk area requirements of the underlying zone. (2) Waived Parking Minimums. The Inclusionary Development does not have a minimum amount of automobile parking required for Residential uses but may elect to include parking as part of the development. Sections 29 and 45 of the Zoning Ordinance, as they relate to motor vehicle parking for Residential uses, are waived. (3) Density Bonus. Irrespective of density limitations in the underlying zone, the Inclusionary Development is entitled to a density of 600 square feet for the average gross floor area per dwelling unit. This reduction is applicable to all structures, regardless of age and lot size, whether conforming or nonconforming, so long as they are permissible under applicable building codes. (4) Negotiated Fixed Assessment through Board of Alders 240 Winthrop Avenue offers a rare opportunity to deliver phased, well-designed, mixed-income housing on a meaningful infill site while directly advancing New Haven’s affordability and housing production goals.


Site is situated in Hill / Chapel West section of New Haven, approximately 1.5 miles from downtown New Haven. The neighborhood contains high density of older multifamily homes and apartment buildings. Some single-family dwelling units are interspersed. Commercial uses exist along Derby Avenue George Street and Ella Grasso Boulevard. Good Traffic visibility and pedestrian access. Convenient access to I-91, I-95, Rte 34 & Rte 15 Traffic Volume along George St approximates 9,600 ADTV


Site is situated in RM-1 Zone district. Current Designation is PDD 127 Site was previously approved from development of 128 residential units. The plan called for 20 Townhouse units together with 6 -1 Bedroom Units along Winchester Avenue. The plan also provided 78 - 2 Bedroom units and 24 - 3 Bedroom units along a new private drive connecting Winthrop with George Street. Yield Analysis prepared by DMS Design, LLC indicate that the site could support: 215 Units with a unit mix of 45 - 1 Bedroom, 130 - 2 Bedroom & 40 - 3 Bedroom or 280 Units with a unit mix of 20 Studio - 165 - 1 Bedroom - 85 - 2 Bedroom & 10 - 3 Bedroom

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