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February 20, 2023 / 2023 Power 50

2023 Power 50: 39. The Winstanleys

Adam Winstanley
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From completing a 500,000-square-foot logistics center in Enfield to the construction launch of a 500,000-square-foot bioscience tower in New Haven, Winstanley Enterprises remained a titan of commercial development in Connecticut in 2022.

That is not a title the Massachusetts company is likely to relinquish anytime soon, as large-scale projects continue to move forward and more are slated to launch in 2023.

David Winstanley

The recession many fear will begin to bite at some point this year isn’t going to slow Winstanley’s plans, said Adam Winstanley, who runs the family company with his brother, Carter, and their father, David.

“We don’t use a lot of debt. We mostly use equity,” Adam Winstanley explained. “Our investments are for the long term. We own our assets. A lot of the time, building during recessions is a good thing. You start construction in a recession and when you are done you are building into a better economy.”

Carter Winstanley

Winstanley Enterprises recently leased the last remaining space in the 21-acre Plaza at Burr Corners in Manchester, a property it purchased in 2015.

In July, the company launched a roughly $20-million road-building and utility infrastructure project at its 653-acre Great Pond mixed-use development site in Windsor.

That set the stage for NorthPoint Development Group’s launch last year of construction on a 530,000-square-foot industrial building on land leased from Winstanley. Target has already signed on as a tenant.

Adam Winstanley said he plans to break ground in the second half of 2023 on a 188-home rental development in a 30-acre portion of the Great Pond site. This will include a mix of townhouses, duplexes and small- to medium-sized houses, all to be available for rent in a community offering a clubhouse and mix of amenities.

Winstanley also hopes to begin construction on an 819,000-square-foot distribution center at 35 Bacon Road in Enfield. The project, to be sited on the former Hallmark property, was approved by local land-use boards but has been held up by a court appeal from residents who fear negative environmental impacts.

Adam Winstanley anticipates that case resolving in the company’s favor this year, he said.

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