DEPARTMENT OF COMMUNITY/ECONOMIC DEVELOPMENT APRIL 2008 BUSINESS NEWS The Department of Community/Economic Development welcomes you to our monthly update on economic activity in the Town of Stratford.
- Commercial, industrial, retail and office building permits for the month of March totaled $78,800. The permit total for the first quarter of 2008 reached $1,662,800.
- The auction and bidding process for the former Stratford Army Engine Plant began on January 14, 2008 and officially closed on Thursday March 20, 2008. The opening bid was $1,000,000. A “soft close” was scheduled for March 4, 2008 but increased activity during the bidding process caused an extension to the final close date. The last week of bidding resulted in two bidders competing for the site. A user, identified only as “Grnacre” submitted the final high bid of $9,612,000. The successful bid does not include the cost of remediation of the site, which rests with the developer. Upon acceptance of the bid by the Government and agreements signed, the identity of the developer and activity will be disclosed.
- The Greater Fairfield County Consolidated Multiple Listing Service has reported that 39 single-family homes were sold in the month of March through April 3rd reporting date. The average selling price was $281,507 and on the market for a period of 102 days.*
- The first quarter statistics of economic activity for the Town of Stratford are being compiled and will be available in the May edition of the Business News. After a banner year of economic growth in 2007, the current year will be very active with the completion of the North Town Center , development of the former Stratford Army Engine Plant and the Shakespeare Theater.
The Department of Community/Economic Development compiles the information contained in the Business News.
Bruce Alessie, Special Projects Coordinator
*Source: Greater Fairfield County Consolidated Multiple Listing Service |