Interested Developers Eye Fairfield Hills

By Kendra Bobowick

Fairfield Hills Authority Chairman Robert Geckle expressed his pleasure with progress reports he heard this week from real estate advisors and project managers.

“I think we reached a few milestones,” he said following Tuesday’s authority meeting. Real estate was the first mile marker.

In past months’ meetings, the authority has been working with advisors to draft a proposal now posted on the town website, which essentially introduces the campus to prospective developers and describes the possibilities among the buildings and acreage.

And, developers are interested, indicated North American Realty Advisory Services President Robert Barclay. He looks optimistically toward next month for more significant progress. “I think by April we’ll see proposals [for development],” he said.

His firm has spoken with as many as 35 developers, which quickly dwindled. Both General Electric (GE) and Xerox were the major names that had recently circulated publicly, but the former state hospital campus was not suitable, Mr Barclay explained. Concerned that they had begun hearing these names spoken in public, members Amy Dent and Donald Studley asked how the names had entered public discussion. Mr Geckle had clarified that the two companies had already announced they were looking for new sites. Other prospects have not yet been discussed publicly, he said.

Deterring some prospective developers were guidelines for the types of business town officials will welcome into the center of town. Housing, for one, is not included in the preferred development options.

“Everyone wants to build residential, it’s attractive,” Mr Barclay said. The authority has also arranged that the town would lease buildings or space for new buildings to newcomers, rather than sell and lose the property.

“A lot of people buy real estate, not lease,” Mr Barclay said. He is not concerned, however. “As I originally said, this is not for everybody.”

Fairfield Hills holds appeal to some who have inquired. “We ended up with a good group of interested [developers] and a few others I think may make the list,” Mr Barclay said. Five remaining parties want a closer look at the property. “They like the location,” he said, among other reasons.

Hearing their ideas is the next step, and then on to something more solid.

“We’re going through the process of working them toward a proposal,” he said. He now intends to refine the number of parties with an interest in nestling its business among the faded brick facades and rustic setting of open fields, trails, and old-fashioned street lamps.

“Let’s whittle it to two or three and then to a choice,” Mr Barclay said. He anticipates April proposals. Those interested may request a meeting to view the area, and meet with officials first. “That’s where we’re heading,” he said. Later that evening, after Mr Barclay had left the meeting, Mr Geckle admitted that already tentative talks are scheduled with several parties who will meet with authority representatives in coming days.

Mr Geckle said, “We have a meeting coming with an interested developer next week.” He also alluded to other meetings for the immediate future.

His plans and progress held no surprises. “It’s doing exactly what we expected, nothing more, nothing less,” he said.

Soon a larger range of developers may be looking into Fairfield Hills. Ms Dent had asked about advertising their request for developers’ proposals to a broader market. “We do need to do that,” she said. Mr Geckle wondered aloud if the authority should advertise now, or wait.

Mr Barclay agreed to advertising, but had reservations. He thinks that current interests will soon narrow to one or two, he said. Ms Dent followed his thoughts.

“If we find someone is interested then find we need to do advertising, do we lose the interested person?”

Member John Reed replied, “I feel some kind of advertising is essential and needs to be now. I think it’s better to flush out anybody out there.”

Visiting www.newtown-ct.gov, select the Fairfield Hills Plans from the main webpage, and then choose the developers’ package to view the document.

 

The Money Trail

Can the campus pull in some cash for the town? Mr Barclay believes the answer is yes. He drafted an economic development report for the authority that reuse of existing buildings and a portion of the land would benefit Newtown. The draft states, “The economic goals are to attract new investment into Newtown creating employment opportunities, countering to the extent possible the daily out migration of residents, stimulating the local economy, expanding the commercial real estate tax base, creating ongoing real estate tax revenue, distribute a portion of the [campus] maintenance costs to tenants, and generate revenue from commercial leases to offset a portion of the Fairfield Hills project.”

In the draft are North American’s estimated benefits from Fairfield Hills when the commercial areas are fully developed. Mr Barclay quotes large sums of between $45 and $54 million from new investment (building construction), potential annual real estate tax revenue of more than $415,000, direct employment opportunities for more than 675 people, and annual lease revenues of between $400,000 and $560,000.

The draft notes that already, the authority has begun identifying a preferred developer, and should soon receive and review proposals, choose a developer and conclude a letter of intent. Lastly, the authority will seek selectmen’s approval on the letter, negotiate, and formalize the agreements.

Already several developers of the initial 35 responses to the package are agreeable to lease, like the existing roads and utilities, believe the site location is convenient to Interstate 84, and are considering uses including corporate and medical space, retail, and village center concept.

 

The Design Standards

The road widths, park benches, lighting, and even trash bins fall under a set of guidelines intended for the one or more different developers and the town to follow in future redevelopment of buildings and property at Fairfield Hills. As the parameters narrow and a Fairfield Hills sub-committee, along with representatives from planners and architects Vollmer and Associates LLP, the types of trees, curbing, walkways, and even bicycle racks are all under consideration as the group strives for its final design guideline booklet.

The public will also get a chance to look at these plans, as Mr Reed suggested.

He stressed that the full authority delay voting on final plans in order to first post them online.

“Put them on the website and let people comment,” he said. Mr Geckle agreed. “I think people will want to digest it,” the chairman said.