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Fort Trumbull Update

The Voice of Reason

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The Voice of Reason

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Fort Trumbull Developer Asks FHA To Back $11.5M Loan

http://www.theday.com/re.aspx?re=73c0cebb-...0a-5b8045f6df56

A major condition for the ground lease is firm financing for the construction of the 69 apartments and 11 townhouses, which the developer estimated in its HUD application will cost $13.4 million, Foye said.

The ground-lease deadline does not affect Corcoran Jennison's ongoing, $18 million project to convert the former Naval Undersea Warfare Center into an office complex adjacent to the proposed housing.

I hope to hell this thing gets going and is a success. in part for the good of new London, but also for the people who lost their homes.

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