STONINGTON PZC APPROVES MASTER PLAN FOR MYSTIC COLOR LAB SITE

Mystic — The Stonington Planning and Zoning Commission unanimously approved a master plan to develop the former Mystic Color Lab site into 42 condominiums, following a public hearing late Tuesday night.

Greylock Property Group LLC gained approval of its master plan to build the condominiums in seven buildings placed around a central courtyard on the 5-acre site. Greylock now will have to return to the commission for approval of its site plan, which also will require another public hearing.

Called Mystic Harbor Landing, the proposed $20 million project would generate between $45,000 and $65,000 in annual net tax revenue for the town. That number could be much higher, as the project is not expected to attract families with schoolchildren.

Units would cost between $470,000 and $550,000. The project would be built in three phases and the timing would depend on market demand for the units.

The plan approved Tuesday calls for fewer units and less square footage than previous plans opposed by some residents.