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September 7, 2023

$50M apartment development taking shape near New Haven’s Science Park

Contributed A sketch of The Residences at Canal Place development in New Haven.
By Hanna Snyder Gambini

Developers and city officials this week marked the progress of The Residences at Canal Place, a new $50 million, mixed-income project that will bring 176 apartments to New Haven’s Science Park area.

The five-story building will feature studio, one-, and two-bedroom apartments, with one-third, or 58 units, deemed affordable.

The project, at 222 Canal St., borders the Dixwell and Newhallville neighborhoods, and is a prime location across from the Farmington Canal Trail, said developer Yves-Georges A. Joseph II, founder and principal of RJ Development and Advisors along with Jason S. Rudnick.
 
The project is a public-private partnership between the development team and New Haven, with $3 million in American Rescue Plan Act funds from the city, and work by the Local Initiatives Support Corp., a nonprofit community development financial institution.

New Haven Mayor Justin Elicker said the project has been in the works for a long time and will offer much-needed city housing. He touted this as one of countless growth and development initiatives around New Haven.  

The building sits on a long-vacant 1.7-acre parcel known as the Science Park lot and is bordered by Ashmun, Canal, and Henry streets.

The $50 million project is the latest piece of a larger effort to redevelop that area of New Haven, which was once home to factories such as Winchester Arms and Olin Corp. 

Joseph said the project will add to RJ Development’s portfolio that includes apartments at College & Crown, the Cambria Hotel in the “Route 34 West” redevelopment area, the mixed-use ConnCAT Place on Dixwell, as well as The Beam project in New London.
 
The first floor of Canal Place is nearly complete, and the entire project is expected to be complete within 18 months.


 

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