132-Acre, Former Hartford Campus, As-of-Right Mixed-Use Development Features In-Place Sewer, Gas, Other Infrastructure
SIMSBURY, Conn., Oct. 8, 2018 – Cushman & Wakefield has been appointed to offer for sale 200 Hopmeadow Street, a 132-acre former campus of The Hartford. The site has liberal zoning in place that supports a wide range of development options. Furthermore, the site is unique with significant in-place utility capacity and infrastructure. The seller will consider offers for the entire site or for portions of the property.
The approved Hartford-Simsbury Form-based Code and tiered master plan approach for redevelopment of the site allows for maximum flexibility, including multi-family, single family, active adult, assisted living, hotel, retail, R&D, office, and medical-office.
Under the currently approved site plan, which is amendable by a new owner, the development would encompass 485 residential units, including 215 townhouse units with a variety of layouts and facades within 51 buildings, and 270 luxury apartments within six elevatored buildings. The development would also include approximately 71,050 square feet of retail/office space, and a walking/bike trail that connects to the Farmington River Trail.
The desirable, pastoral location provides spectacular unobstructed views of the Farmington River and Talcott Mountain State Park, yet is only four minutes away from the “Main Street” style shops and restaurants of downtown Simsbury — which has been ranked as a No. 3 “Best Place to Live in Connecticut” — and two minutes from Route 44 shopping in Avon.
“This is a truly unique, high-end and flexible property that’s centrally located along Route 202 (Hopmeadow Street) offering easy access to the conveniences of a town center for residents, as well as for Hartford commuters who can reach the city in 20 minutes,” said Cushman & Wakefield’s Brian Whitmer from the East Rutherford, New Jersey office, who is heading the assignment along with Brian Barnett from the commercial real estate services firm’s Boston office and Al Mirin from the Stamford, Conn. office.
“It’s rare to have sites of this size enter the market that are as well located as this one,” Whitmer added. “200 Hopmeadow Street can accommodate a wide range of uses, including mixed-use development that promotes a live-work-play atmosphere in the suburbs.”
An adjacent parcel is currently being developed as a mixed-use community featuring rental apartments, retail and an assisted-living facility, observed Barnett. “The neighboring development is the kind of catalyst that highlights the potential of this area,” he said. “It has established sense of place, and is the beginnings of building a community that the subject site will eventually complete.”
“The Hartford’s former office building has been razed, but the electric, water, sewer and gas infrastructure remains in place, which is a big plus for a developer as its saves time and investment funds,” noted Mirin. “The location is ideal, too. Simsbury is ranked among the most affluent communities in Northern Connecticut, with an average household income of $165,000, abundant recreational options, a highly regarded educational system, and easy access to major employment centers.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.