Developer buys vacant Stratford lot for $3.15M to build 119-unit apartment complex
Contributed photo
Rendering of future 119-unit apartment building, at 382 Ferry Blvd., in Stratford.
A developer has bought a long-time vacant lot in Stratford for $3.15 million to build a four-story, 119-unit apartment complex with 1,254 square feet of ground-floor retail space.
Will McCallister, of Stratford, has purchased the 2.57-acre property, at 382 Ferry Blvd., from Amir Nechmad, of New York, according to Richard Ballou, a broker with Houlihan Lawrence Wareck d’Ostilio, who represented the buyer and the seller with broker Casey Fisher.
“This property has been sitting there looking gnarly for too long,” McAllister told the Hartford Business Journal.
He said the ground floor will house a coffee shop or a restaurant, a lounge and a gym.
“I’m actually starting to prep the land this week” for construction, he said. An old commercial building on the property will be demolished.
McCallister in August 2024 completed construction of The Cornerstone, a four-story, 46,000-square-foot building with 46 apartments and 6,000 square feet of commercial space close by at 211 Ferry Blvd.
“Once I realized how much apartments were needed in Stratford, I decided to build here,” he said, adding that he gets dozens of phone calls a week from people requesting more housing in town. “I really want to invest in Stratford.”
The town’s Planning and Zoning Commission approved a prior plan by another developer for 119 apartments on the site in 2018 that never came to fruition, he said.
The property is appraised at $2.58 million and assessed at $1.81 million, according to property records.
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