THE CHALLENGE
The Town of Groton engaged GOMAN+YORK’s advisory and brokerage teams to devise a strategy to sell and redevelop the 14-acre property known as William Seely School. The 57,000 sq. ft. former elementary school, which had been vacant and underutilized for many years, is situated on a highly trafficked area at the junction of Interstate 95 and State Routes 12 and 184.
Immediate Issues
- Vacant former school property had been for sale and costing the town money for over a decade.
- Complicated and expensive demolition of the existing building was necessary.
- Geotechnical challenges to develop the land.
- Previous development plans/deals had failed over the past several years.
OUR SOLUTION
Sale of property to North Haven, Connecticut-based DonMar Development, for proposed "Triton Square" - a development of over 280-unit apartment complex, replete with many modern features and amenities, as well as public access to walking trails and potential development with adjacent property.
Planning and Processes
- Developed a targeted marketing plan and process seeking the highest and best use for the property that would provide multiple benefits and enhance the community.
- Participated, alongside town staff, in administrative and public strategic planning and approval meetings.
- Managed the developer outreach, selection and negotiation processes.
