Stratford picks 2 finalists for Center School property
STRATFORD — The final two developers vying to buy the former Center School property will make public pitches at a meeting this month.
In July four companies pitched various concepts for residential developments at the Center School property to a selection committee of town officials.
A week later, the committee’s chairman said the list had been narrowed down to two proposals. He said the committee would ask the companies to make additional presentations after honing their concepts further.
An update posted to the town’s website identified the two proposals as Romano Brothers Builders and Spirit Investment Partners/Kaali-Nagy Properties.
Kaitlyn Shake, D-2, whose Town Council district covers the property, said Friday she’s “looking forward to the presentations and (hopes) the developers took the committee’s feedback seriously in their consideration to incorporate what the community wants in their revisions.”
The presentations — which will be recorded on video and posted to the town’s website — are scheduled for Aug. 31 in Town Council chambers at Town Hall. The Romano Brothers presentation is scheduled for 9 a.m., with Spirit Investment/KaaliNagy slated for 10:30 a.m.
The Town Council has the ultimate say on what happens to the property.
Spirit Investment Partners is part of a team that includes the New Canaan-based KaaliNagy Company, which is currently in the process of developing a former Christ Episcopal Church property on Main Street into an apartment complex.
Spirit’s $40 million proposal, called “Sutton Place,” included a fourstory, 162-unit apartment complex with a pool, community gardens, dog run and public park and a purchase price of $750,000.
The plans included 21 studio apartments with $1,700 rents, 96 $1,900 one
The presentations — which will be recorded on video and posted to the town’s website — are scheduled for Aug. 31 in Town Council chambers at Town Hall.
bedrooms, 41 $2,400 twobedrooms, four $3,500 rental homes fronting Sutton Avenue — and a 198space underground parking garage.
In soliciting bids for the property this year, the town asked developers specifically to include underground parking in their designs, and said the town would be open to a costshare agreement to finance the concept.
In order to finance the cost of the garage, pegged at about $6.5 million, the proposal also asked for a 14-year tax abatement, which was estimated to total roughly the same cost. The abatement would run out in 2038.
Further phases of the development could include a community arts center, developer Damian KaaliNagy said.
“Should we be selected, we look forward to immediately working with the town, the mayor, the economic development director and the adjacent neighbors and neighborhood groups to have open discussions” regarding possible modifications to the proposal, he said.
Romano Brothers Builders is headed by Shelton resident Mark Romano, who was born and raised in Stratford and told the selection committee he would bring local knowhow and commitment to the project.
“I have a vested interest to do a good job on this. When I heard this was coming up for bid, I said ‘I want this property,’” Romano said. “I want to build it. I want something nice in town. We came up with what we think is the highest and best use of the property.”
Romano proposed paying $2.1 million for the property and building a total of 142 units — 20 $2,900 two-bedroom townhouses, 14 $1,800 studio apartments, 92 $2,000 onebedrooms and 16 $2,450 two-bedrooms. The townhouses and a public park would front Sutton Avenue and the apartments would be in a four-story building behind.
Romano’s $27.2-million development plans showed 176 parking spaces, with 82 of them below the apartment building. More underground parking could be provided, but that would mean a lower purchase price.
The property has been vacant since the former school was demolished in late 2018, attracting lukewarm interest from developers when the town has issued requests for proposals in the past.
The agency brought a “preferred developer” to the council last year, but the town walked away after the developer’s plans for a 132-unit apartment development were widely panned. A renewed effort to sell the land attracted more interest this year.