Please do not leave this page until complete. This can take a few moments.
A Waterbury senior apartment building has been acquired for more than $26 million by a New York City real estate investment firm founded by Miami Dolphins owner Stephen Ross.
The Nottingham Towers apartments, at 31 Nottingham Terrace, was sold by Nottingham Towers Investors LLC for $26.3 million to Nottingham Towers Preservation, an affiliate of Related Affordable, in a deal recorded May 13, according to city records.
Nottingham Towers is an eight-story, 165-unit senior housing complex built in 1977. It last changed hands 20 years ago when Nottingham Towers Investors bought it for $4.4 million in August 2004, according to city records. The building sits on 2.95 acres and the property has a total appraised value of $15.2 million.
The Related Companies was founded by Ross more than 50 years ago and has since acquired real estate assets valued at more than $60 billion, made up of mixed-use, residential, retail, office and hospitality properties.
A spokesperson from the Related Affordable team said “As one of the largest private developers of affordable housing in the U.S., Related has remained committed to providing quality homes for 50-plus years. We are proud to be able to preserve Nottingham Towers as Senior Affordable Housing in partnership with the Connecticut Housing Finance Authority and the local Housing Authority of the City of Waterbury. This acquisition will not only extend the building’s affordability status but will also undertake a significant renovation for the community including upgrades to exteriors and interiors, plumbing repairs, window replacement, and much more.”
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
The Hartford Business Journal 2025 Charity Event Guide is the annual resource publication highlighting the top charity events in 2025.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering vital marketplace content and context to senior decision-makers throughout Connecticut ...
All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments