Industry News
Orange Retail Building Trades for $3.16M
March 12, 2024 | Reprints | Unlock LinkA prominent retail property in Orange has traded hands for $3.16 million.
Fintech Bank Opens Stamford HQ
March 12, 2024 | Reprints | Unlock LinkEuropean fintech Banking Circle has placed its American headquarters office in Stamford, drawing Gov. Ned Lamont and state Banking Commissioner Jorge Perez to the ribbon-cutting.
Heat Pumps that Fit in Apartment Windows Promise Big Emissions Cuts
By Isabella O'Malley and Ingrid Lobet | The Associated Press | March 11, 2024 | Reprints | Unlock LinkFor 27 years, the heat in Regina Fred’s Queens apartment building came from a noisy steam radiator that she couldn’t control and sometimes didn’t come on at all, leaving her shivering. Sometimes, the radiators ran so hot that residents had to keep their windows open...
$30M Infill Project Rises at Gateway to Windsor Center
By Steve Adams | Commercial Record Staff | March 8, 2024 | Reprints | Unlock LinkAfter a stint as chief operating officer of New York developer Tishman Speyer’s operations in Brazil, Gregory Vaca returned to his native Connecticut during the pandemic to put his commercial real estate experience to work pursuing his own projects.
Biden Pledges More Funds, Regulatory Crackdown to Address Housing Costs
By James Sanna | March 8, 2024 | Reprints | Unlock LinkAmong the many proposals and pledges included in his State of the Union speech Thursday night, President Joe Biden called on Congress to pass a package of tax credits and other funding measures to help address the nation’s housing shortage.
Bristol Wants Developers for Prominent Ex-Factory
By James Sanna | March 7, 2024 | Reprints | Unlock LinkBristol officials are hoping to interest housing developers in a large, city-owned industrial property near their city’s downtown.
TD Bank Gives $1M to Expand Affordable Developer’s Assistance Program
By James Sanna | March 7, 2024 | Reprints | Unlock LinkThe Community Builders, a national nonprofit developer of affordable and supportive housing, now has $1 million courtesy of TD Bank to scale up its Home Room housing instability pilot program.
Bigger Office Properties’ Higher Vacancy Rates Persist in Fairfield County
By James Sanna | March 6, 2024 | Reprints | Unlock LinkA new analysis of occupancy data by commercial brokerage Avison Young finds that the bigger an office building is in Fairfield County, the more empty it continues to be.
Powell: Rate Cuts Still Likely, but More Evidence Needed that Inflation’s Tamed
By Christopher Rugaber | The Associated Press | March 6, 2024 | Reprints | Unlock LinkChair Jerome Powell reinforced his belief Wednesday that the Federal Reserve will cut its key interest rate this year but that it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2 percent target.
Pandemic Boosted Hartford Homebuyer Income by $52K
By James Sanna | March 5, 2024 | Reprints | Unlock LinkA new analysis by economists at Zillow say the income a Greater Hartford homebuyer needs to afford the median home in the region rose by over $52,000 over the last four years.
CFPB Seeks $8 Credit Card Late Fee Cap
By Ken Sweet and Josh BOak | The Associated Press | March 5, 2024 | Reprints | Unlock LinkThe Biden administration announced a rule Tuesday to cap all credit card late fees, the latest effort in the White House push to end what it has called “junk fees” and a move that regulators say will save Americans up to $10 billion a year.
State Makes ‘Progress’ in Rewriting Contamination Rules that Stymie Development
By James Sanna | March 4, 2024 | Reprints | Unlock LinkA much-hated state law that’s helped hobble reuse of industrial properties in cities across Connecticut is headed for significant changes.
Wells Fargo Plans Two More CT Branch Closings
By James Sanna | March 4, 2024 | Reprints | Unlock LinkAdd New Haven and Bethel to the communities in line to lose a Wells Fargo branch this year.
One Year After Buying a Failed Bank, New York Community Bancorp Is Struggling
By Michelle Chapman | The Associated Press | March 1, 2024 | Reprints | Unlock LinkA New York bank is under severe pressure Friday close to one year after absorbing a large chunk of another bank 30 miles away that had failed.
Localizing Philanthropy for a Global Bank
By Nika Cataldo | March 1, 2024 | Reprints | Unlock LinkComing from the world of government administration, Rafia Zahir-Uddin has helped JPMorgan Chase to provide $1 million in community investments in Connecticut in 2023 as its vice president for corporate responsibility.
Report: Spinnaker Buys Final Parcel for Big Hartford Redevelopment
February 29, 2024 | Reprints | Unlock LinkDowntown Hartford’s Bushnell South project just passed a major hurdle as Norwalk-based Spinnaker Real Estate Partners completed site assembly for the redevelopment.
Fewer Banks Tightening Lending Standards, Raising Hopes
By Damian J. Troise | The Associated Press | February 29, 2024 | Reprints | Unlock LinkFewer banks tightened lending standards as 2023 came to a close, a hopeful sign for businesses that broader loan access is on the horizon.
Inside New Haven Wealth Firm’s New High-Rise Offices
By James Sanna | February 28, 2024 | Reprints | Unlock LinkNew Haven architecture firm Svigals + Partners is showcasing the work it did designing a new headquarters office for local wealth management company Kreitler Financial on the fifth floor of downtown New Haven’s One Century Tower.
Boston Fed Appoints New First VP, COO
By Nika Cataldo | February 28, 2024 | Reprints | Unlock LinkThe Federal Reserve Bank of Boston has named Karen A. Pennell its new first vice president and chief operating officer. She will replace Kenneth C. Montgomery, who will retire this spring.
NBT Cuts Ribbon on New West Hartford Branch
February 27, 2024 | Reprints | Unlock LinkNBT Bank celebrated its newly relocated West Hartford branch with a ribbon-cutting ceremony on Feb. 21 and donations to a pair of local charities.