Boston & New England + New England + Apartments | April 30, 2020

Belfonti Launches Work on Central CT Apartments

Belfonti Companies has broken ground on a $50-million market-rate, luxury apartment home community in Cromwell, CT, a central Connecticut town that’s home to the Traveler’s Championship PGA Golf Tournament.

The new community will consist of 160 units, and will be constructed in phases, with the apartments delivered over the last 10 to 12 months of an 18- to 22-month construction period.

“This project will offer a different lifestyle than the existing apartments in Cromwell – a fully amenitized, professionally managed, Class A luxury apartment community,” said Michael Belfonti, the founder and CEO of Belfonti Companies.

The project is the first new multifamily product to be built in Cromwell in the past few decades, and it has virtually no competition. Belfonti has contracted with Bozzuto Management for the initial lease-up of the asset.

The project is being funded by a construction loan from Bankwell Bank of New Canaan, CT.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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