Community Preservation Partners (CPP) and Beacon Communities announced the acquisition and planned rehabilitation of Brewery Square Apartments in New Haven, CT. This is CPP’s second community in the Fair Haven neighborhood, following the recent completion of nearby Fairbank Apartments.
Located at 1 Brewery Square along the Quinnipiac River, Brewery Square is a two-building, 104-unit apartment community originally constructed in 1896 as a brewery and converted to housing in the early 1980s. CPP and Beacon will extend affordability protections and implement significant renovations while preserving the property’s historic character. The approximately $43-million development investment includes extensive renovations estimated at $112,342 per unit.
“This acquisition allows us to increase and deepen affordability while also extending the life of a property that is deeply cherished by the community,” said John Fraser, VP of development at CPP. “We are proud to protect the historic fabric of this neighborhood while delivering modern upgrades that respond directly to resident needs.”
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