Northeast Private Client Group is pleased to present the Level Street Development Site, located at 34 Level Street, New Haven, CT.
The Level Street Development Site is a six acre, mostly clear gently sloping site with approvals in place for 74 units. Due to the Site’s
size and location, it is possible that a new owner may be able to increase the density of the exiting approvals to 150+ units plus a commercial component. The Site is located in the New Markets Tax Credit (NMTC) qualified zone allowing investors to receive tax credits of 39% of Qualified Equity Investments (QEI) in the site over a seven-year period. More information can be found at https://www.irs.gov/businesses/new-markets-tax-credit-1#3.
The Level Street Development Site is ideal for tax-credit, project-based, or any other type of affordable or mixed-market development. The Site is located across the street from a large New Haven Housing Authority Complex planned for a full redevelopment in 2019. The Site is located on a hard corner with extensive frontage on both streets, and the population density in the immediate vicinity would support a commercial component.
