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June 12, 2023 / 2023 Power 25 Real Estate

2023 Power 25 Real Estate: Mark Lovley and Tony Valenti

HBJ Photo | Steve Laschever Mark Lovley (left) and Tony Valenti outside the Berlin train station, adjacent to their Steele Center mixed-use project.
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Mark Lovley and Tony Valenti make up the Southington-based real estate development firm Newport Realty Group, which is revitalizing a stretch of Farmington Avenue in Berlin’s Kensington Village with the Steele Center development.

The $17 million, 75,000-square-foot commercial and residential multi-building project is centered around Berlin’s new train station and will feature 70 market-rate apartments and several commercial storefronts when complete.

The team was able to pivot earlier this year on shifting market demand for smaller apartments, and scrapped plans for two-bedroom units in the Steele Center.

Lovley, of Lovley Development Inc., and Valenti, of Newport Realty Brokers, have real estate investment and property development experience going back 34 years.

The team has aggressively expanded their Connecticut portfolio over the past year. Other projects include The Newport Center, with 9,520 square feet of office, restaurant and retail suites on Farmington Avenue in Berlin, near Steele Center; and Willowbrook Estates, a 61-home, age-restricted adult residential community in Plainville and Farmington, with the first two phases built and sold out, and the last two phases fully under contract.

In 2018, Valenti and Lovley were partners in Ringgold Estates, a 25-unit townhouse condominium development on Park Road near Blue Back Square in West Hartford.

The Newport team’s projects also include The Naubuc Professional Center in Glastonbury and a new Dairy Queen in Waterbury.

Newport works on all aspects of development projects, from site evaluation to land use board approvals, securing financing, design, construction and leasing.

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