Lauretti: Latest sale brings Mas property at or near capacity
SHELTON — The Mas property is at or near capacity, according to Mayor Mark Lauretti.
The Board of Aldermen, at its meeting Thursday, approved the sale of 3.94 acres of the city-owned land to ARP Welding, LLC, for about $335,000, about $85,000 per acre. This latest deal comes a month after the city approved four deals, in which Shelton sold some 26 acres for a total of nearly $2.4 million.
Lauretti, noting that the city purchased the Mas property for $600,000 in 1996, told the aldermen this latest deal represents the final sale of land off the nearly 70-acre parcel. Beginning of the construction of the Constitution Boulevard extension, essential for reaching the presently land-locked Mas property, is imminent, the mayor has stated.
“There has been a lot of interest … a lot of those interested were left out,” Lauretti said. “This (deal) completes it, I believe. Maybe there might be one other piece.”
ARP Welding, LLC, a Shelton-based company which focuses on welding repairs and manufacturing, plans to build a 20,000square-foot building.
In the October sales, the price for the land ranged from $85,000 to $125,000 per acre to various groups for use in industrial and retail capacities.
Lauretti said he placed the $85,000 per acre price on the land after discussions with the city’s appraisal company. He said the acres being sold are “raw land. There are no utilities, and it is rough terrain. A lot of sitework will be needed” he said, adding “The price is reflected in the condition of the land.”
Lauretti said three of the sales are in the heart of the Mas property, but a parcel bordering Bridgeport Avenue carries the higher, $125,000 per acre price tag. The recent realignment of Constitution Boulevard allowed the city to sell to a retail operation because of the location along Bridgeport Avenue, Lauretti said.
Lauretti said Constitution Manufacturing, already Shelton-based, specializes in steel manufacturing and plans to build a 40,000 square foot building.
Barone Ventures, LLC, plans to move its industrial, manufacturing and corporate offices to the site. The company has informed Lauretti that it plans to build a 150,000-square-foot building for its operations.
Kyma, LLC, specializing in interior audio design and consulting, plans to build a 50,000-square-foot building.
The final property, adjacent to Bridgeport Avenue, is planned for retail.
These deals come after the city agreed to sell six acres to William and Nicole Charney, owners of Shelton-based Advanced Home Audio, which is presently located on Long Hill Cross Road.
The couple agreed to pay the city $85,000 per acre, which comes out to $510,000. The aldermen’s approval states the total acreage and payment amount will be determined after the final subdivision of the nearly 70-acre parcel near Constitution Boulevard.
Lauretti said, from his understanding, the company would be consolidating its operations on the purchased land.
The city has also reached a deal with Bigelow Tea, which agreed to purchase 25 acres of the property for an estimated $2.1 million for its future expansion.