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November 20, 2024

Vernon land approved for multifamily development listed for sale

COSTAR A rendering of the apartments approved for a site at 14 Hyde Ave., Vernon.
By Greg Bordonaro

A 24.3-acre lot in Vernon that has been approved for a multifamily development has been listed for sale.

The property at 14 Hyde Ave., has been listed without an asking price. According to marketing materials, the land already has approvals for a 174-unit, market-rate apartment development with a mix of one- and two-bedroom units. 

Marketing materials also tout the property’s location, which straddles the Tolland town line and is 18 minutes away from UConn’s main Storrs campus, which has been facing a housing shortage.  

COSTAR
The land at 14 Hyde Ave., Vernon.

The property is owned by Hyde Park LLC, which is controlled by Manchester developer Richard P. Hayes Jr. and Patricia Faby.

The property currently has a market value of $104,030, town records show. 

The listing broker is Brendon Mansaku (brendon@smrea.com), managing broker of SM Real Estate Advisors. 
 

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