Plan For Ex-Factory Breaks Condo Barrier

 The old Lehman Brothers Inc. printing company, which has been empty for almost 10 years.

The old Lehman Brothers Inc. printing company, which has been empty for almost 10 years.

Tuesday, October 24, 2017 - 

With a plan to renovate a shuttered Goatville factory printing plant, a fast-growing New Haven real estate company is betting that New Haven’s housing boom is ready for condominiums, not just high-end rental apartments.

The testing ground for this condo experiment will be the former Lehman Brothers printing plant at Foster and Canner streets, which has been closed and derelict for almost a decade.

During Monday night’s East Rock Community Management Team meeting at the mActivity Gym on Nicoll Street, property manager Mendy Paris, architect Wayne Garrick, and lawyer Kenneth Rozich of the company Ocean Management presented their prospective plan for converting the building into a 30-unit condominium complex. New Haven is awash in new high-end housing construction, but other developers report they have been able to obtain financing only for rentals, not condos. Ocean gets private financing from out-of-state investors and doesn’t need to rely on banks.

Click here to read the full article...