Urban Strategy Fund : A new Boston Real Estate Fund

Property Type:

133-unit residential development project


Investment Strategy:





Niantic townhouses.JPG


Seaside Villages at 38 Hope Street

Niantic, CT


The former Hermitage lighting facility will be transformed into the 133 unit condominium project in Niantic, CT consisting of a mix of 1-2 bedroom flats and two-bedroom, two-story townhomes. The project will replace an abandoned warehouse with a vibrant community and increase the value of surrounding areas.


Located in close proximity to the Niantic Bay Waterfront and retail centers, the project will offer 30% Workforce Housing units. The amount of landscaping and construction needed to transform the space will create a significant number of jobs.


Construction started in May 2007 and in the fall of 2008, 53 units comprising Phase 1 of the project were delivered. Phase 1 units include 17 townhouses clustered in three buildings and 36 flats located in one signature three-story building at the front of the property.  A substantial portion of Phase I units have sold with all remaining units projected to close by the end of 2011.  In an effort to match buyer demand, the site has been repermitted to develop 80 units in Phase II which will reduce the total project units developed from 150 to 133.


Visit the community's website at http://www.seasideniantic.com



  Current Investments

545 Long Wharf


777 Brook Street


East Hartford Portfolio


Gates of West Bay


Harris Corners I - III


Lofts 881


Maitland Green I & II


Olmsted Green


One Greenway (Parcel 24)


The Schoolhouse


Seaside at 38 Hope Street


The Shops at Quonset


Southpoint Executive Center


Waterbury Senior Housing


Winooski Falls




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