City officials in Waterbury, Conn., plan to sell the property of a former school to a private developer to create apartment housing for hospital employees, CT Insider reported July 14.
Five things to know:
1. The three-school building property is across the street from Trinity Health’s St. Mary’s Hospital. City officials initially waited to see if the health system would purchase the property, but a deal was not made, according to CT Insider.
2. When informally contacted by city officials, representatives at St. Mary’s Hospital and nearby Waterbury Hospital confirmed there was a housing demand for hospital workers.
“We are in constant communication with the mayor’s office on a variety of subjects,” a Trinity Health spokesperson said in a statement shared with Becker’s. “Although purchase of the property did not align with our strategic operational objectives, we are always interested in and supportive of opportunities to improve the lives of colleagues and the greater Waterbury community.”
3. The $1.6 million purchase agreement is awaiting approval from the city’s board of aldermen, according to the report. Kaybar Development submitted the winning proposal and is seeking to build a complex with 80 units ranging from one- to three-bedroom apartments. The project is estimated to cost $18 million to $20 million.
4. The development firm proposed three scenarios based on a combination of state and private funding. Each includes the construction of a new building and the renovation of the existing school buildings and the property’s convent.
5. A public hearing will be conducted before the aldermen’s vote, which could take place Aug. 11, according to the report. The tentative closing date is Sept. 15, with a final deadline of Dec. 15 to allow Kaybar to pursue state funding. Becker’s has reached out to Waterbury Hospital and will update this story if more information becomes available.
