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August 22, 2024

Spinnaker partners with neighboring developer on Wooster Square project, bringing more apartments to downtown New Haven

Contributed A rendering of the proposed building at 20-30 Fair St., New Haven.
By Hanna Snyder Gambini

A multifamily development firm with high-profile projects in New Haven and statewide has partnered with another company to revive a dormant apartment project in the Elm City. 

Norwalk-based Spinnaker Real Estate Partners recently teamed with New York-based real estate development and investment firm Epimoni on a plan to build market-rate apartments at 20-30 Fair St., in the Wooster Square neighborhood of New Haven.

Darren Seid and Epimoni had plans for the 186-unit project approved by the City Plan Commission in 2021, but the development did not take shape. 

Nearly three years later, Spinnaker came on board as a partner and made plan modifications, which required another application to the city.

Frank Caico, executive vice president of development for Spinnaker, said his firm made changes to the number of units and the building layout. 

The footprint for the new six-story, $60 million project is still 160,000 square feet, but the number of units was reduced down to 168. 

The mix of studio, one- and two-bedroom apartments have different configurations and are a bit more spacious than in the original plan, Caico said.

The new plans were approved at the commission’s July meeting. Spinnaker and Epimoni are working on financing and demolition of existing buildings on the site, Caico said.

Spinnaker is familiar with Seid through Epimoni’s neighboring multifamily housing project at 44 Olive St. 

The 20 Fair St. site will have five stories of apartments, with 1,000 square feet of retail space along with parking and amenities like a fitness center, communal areas and coworking space on the ground floor, Caico said.

Caico said this Fair Street project will also include a greenway connecting Wooster Square with the central downtown area around State Street, the train station and the Green.

The Fair Street building is expected to break ground in the first quarter of 2025, Caico said. 

It is one of several multifamily projects in New Haven for Spinnaker, which also has numerous projects in Norwalk, Hartford and Cheshire. 

In New Haven, Spinnaker is building The Anthem, which is part of the large-scale mixed-use Square 10 project on the site of the former New Haven Coliseum.

Spinnaker has recently completed its flagship project, The Audubon New Haven, which is a multi-building, multiphase, mixed-use project that first launched in July 2018, and has since brought a total of 470 market-rate units to the Elm City. 

The apartments at The Audubon New Haven are 100% leased, and tenants such as Orange Theory fitness and a restaurant have occupied the commercial space. Caico said there is still about 5,000 square feet of retail space available at The Audubon.


 

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