Developer granted more time for Meriden subdivision

Developer granted more time for Meriden subdivision


MERIDEN — The city’s Planning Commission gave a developer more time to complete a subdivision off Hanover Road.

The developer, Opportunity Real Estate Equities LLC sought the extension to re-evaluate the current housing market to weigh whether the existing number of allowable homes would make the subdivision, titled Summit Heights, economically feasible, said City Planner Robert Seale.

William Coons, the principal listed for Opportunities Real Estate Equities, could not be reached for comment.

The subdivision was approved for 12 homes of about 2,000 square feet several years ago, but falling housing prices in the city have made the developers rethink their plan.

“They wanted to develop it but due to current real estate prices, they can’t make it work,” Seale said.

One solution would be to seek a zone change from R-1 single family, to R-2 multi-family and increase the density by building duplexes, Seale said.

“They want more time to watch the market and see where things go,” Seale said. “They want to see if they have to do a re-subdivide or not.”
Twitter: @Cconnbiz


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