From CT Post:
Sacred Heart University has razed Monticello Gardens, the apartment complex at 4100 Park Ave. the school purchased nearly two years ago, but a spokesperson said there are currently no set plans to permanently redevelop the property.
… “We are preparing the lot to temporarily use as space for construction materials and displaced parking while we build an addition to our Center for Healthcare Education at 4000 Park Ave.,” Deborah Noack, Sacred Heart’s head of communications, wrote in an email. “We have not made plans for the land beyond (that use).”
The school purchased Monticello Gardens–a pair of 1980s-era buildings on 2.58 acres located 1.1 miles from the Fairfield-based university’s main campus–for just over $3 million in August 2021.
Three years earlier neighborhood elected officials and residents successfully fought a proposal by private developer ABS Capital of Florida to build a $55 million, four story, 600-bed dormitory there that would have served Sacred Heart students, but not be owned or run by the school. City zoning commission members voted down that proposal in January 2019.
Full story here.
Nobody demolishes a million dollar complex without plans for rebuilding — they’re just not telling Lennie!
2.5 acres of land (with buildings and subsequently without as they have been demolished because they did not figure in SHU long term plans) and the land acquisition almost two years ago for $3 Million was made with borrowed funds. perhaps?
What is the tax status of the property as it is currently being used?
Does anyone in the City keep track of such things as school or hospital properties that have increased in number and value of late, and whether the funding from the State to the City of Bridgeport has kept up with this trend? Time will tell.