Norwich Rd - Lot 29

The subject property is a 20.04 acre development parcel located along Norwich Road (Route 12) in Plainfield, CT. The parcel is currently undeveloped land with preliminary studies indicating the capacity for up to 240 apartments spread throughout the parcel. The town of Plainfield is located midway along the I-395 Enterprise Corridor which grants tax benefits to new businesses locating within the designated zone. The entire corridor continues to see considerable growth benefiting from both the Enterprise Zone designation as well as the Interstate access connecting the Interstate 95 corridor with the Interstate 90 corridor in Massachusetts. The property is located less than 1 mile from two I-395 interchanges providing incredible access from either direction. Also within a mile is the soon to open 200,000 square foot Amazon “last mile” distribution center at the Southern I-395 interchange and a recently approved 1,250,000 square foot Uline distribution facility at the Northern I-395 interchange. It is estimated that these two new industrial developments will require 1,200 net new jobs in the community and there is not nearly enough housing to support that growth. Lowe’s Home Improvement also maintains a 1,350,000 square foot distribution facility about 2 miles away. Additional developments have included retail expansion as well as health care such as the new Hartford Healthcare Emergency Care Center a quarter of a mile away which fills in an emergency healthcare gap that exists within the region. The town of Plainfield is located in Windham County in the northeast portion of the state bordering both Massachusetts and Rhode Island. Plainfield is the southernmost town in Windham county and borders New London county. The area has developed into a significant last mile fulfillment destination given the ease of Interstate access and is also benefiting from the Billions of dollars in US Government contracts for military submarine construction in Groton, CT. The region has been flooded with job training programs and rapid employment expansion. Demand for new multi family capacity has not been able to keep pace creating significant demand. Plainfield benefits from its centralized location with access to Hartford (CT), Providence (RI), Worcester (MA) all within 1 hour and Boston within 2 hours.