One of the two properties Avison Young brokered that will turn into senior housing is in Shelton.
Shelton-based Hawk's Ridge LLC has sold 26 Beard Sawmill Road to Shelter Development LLC for nearly $3.8m. Avison Young's managing director in Fairfield/Westchester, Sean Cahill, set up the sale of the eight acres of land where a Brightview Senior Living facility will go. It will have 160 independent living and assisted living units, and memory care center.
According to Alison Luisi, Avison Young's Capital Markets Group Senior Associate, the state's senior population will grow by more than half in the next 30 years and seniors already account for one fifth of the population. She predicts that there will be a high demand for senior facilities as long as there are proper spaces for them.
A buyer would have around a year to create a plan for the property that was approved by the town before the developer finalized the sale. For the Shelton property, Avison Young researched senior living to ensure Fairfield County residents would be interested in the units. Everything was under strict time constraints. Cahill explained that the Shelton property was originally marketed for assisted living development only and marketed it across the nation.
Developers can have a poster printing company create clear and colorful visuals for marketing and explaining development plans to town and city councils.
Location
42 Bridgeport Ave
Shelton, CT 06484
Get Directions →
Phone
Hours
Mon: 8:30 - 5:00
Tue: 8:30 - 5:00
Wed: 8:30 - 5:00
Thu: 8:30 - 5:00
Fri: 8:30 - 5:00
Sat: Closed
Sun: Closed