Property has long been coveted
By ADAM BOWLES
Norwich Bulletin
PRESTON -- It may not be Manhattan, but a large piece of land for sale along the
Thames River has become the dream of wealthy developers.
Its development may also change the face of Eastern Connecticut.
In 1996, the Norwich State Hospital closed and the Mohegan Sun Casino opened
across the river, suddenly turning the hospital land on the outskirts of town into
prime real estate, with 419 acres in Preston and 63 acres in Norwich.
"You've got a massive amount of land bordered right on the river. That alone makes
it tremendously valuable," said Norm Krayem of Ledyard, the president-elect of the
Connecticut Association of Realtors.
Preston First Selectman Robert Congdon said state estimates put the value of the
land around $30 million after it is cleaned up.
Krayem said it is virtually impossible to find commercial land of that size, never mind
its proximity to interstates 395 and 95, the coveted Boston-New York market and the
world's two largest casinos -- Mohegan Sun and Foxwoods Resort Casino.
"It would certainly be at the top of the list because of the casinos in the area," he
said. "It may be one of the best locations that is begging to be developed."
Utopia Studios is the latest to get the hospital-land fever.
For about three years, Joseph Gentile, Utopia's chief financial officer, has worked to
get the title of the Preston portion of the property, which he says would make a
perfect home to his proposed theme parks, hotels, performing arts college and
movie studios.
Before Utopia arrived, Pfizer Inc. nibbled at the 480-acre property. The Mohegans
made a push. Spaulding & Slye, a Boston real estate developer, eyed it. They all
passed.
Several local leaders wanted to move Three Rivers Community College to the site,
but that effort failed, too.
More than two dozen other developers have expressed interest in the land to
Preston, though nearly all of them featured projects with a housing component,
which local zoning prohibits.
In 1998, the Planning and Zoning Commission rezoned the Preston portion into the
Thames River Design District, or resort-commercial.
Dan Kulesza, who was on the commission at the time, and who serves on the town's
Norwich Hospital Advisory Committee, said town leaders didn't know exactly what to
expect out of the property, but knew it could be big.
"The property speaks for itself," he said. "It's located at the edge of town. It is the
best spot in our town to have a commercial development."
The state, in its request for development proposals in 2004, reported the region's
demographics favored development.
"In fact, the most highly populated region of the United States is within a 500-mile
radius of the site, and the average income statistics for Connecticut are the highest
in the United States," the report stated.
The land is spread over six parcels and separated by routes 12 and 2A, both of
which are two-lane state highways. Nearly 80 percent of the land lies on two parcels
across from each other on either side of Route 12.
The site Utopia wants to use for most of its attractions is a 130-acre, mostly flat
parcel between Route 12 and the Thames River that was used for the core of the
hospital campus.
"With a mix of flat and sloped terrain," the state once advertised, "the favorable
topography provides a high usability potential."
Reach Adam Bowles at 425-4255 or abowles@norwich bulletin.com
By ADAM BOWLES
Norwich Bulletin
PRESTON -- It may not be Manhattan, but a large piece of land for sale along the
Thames River has become the dream of wealthy developers.
Its development may also change the face of Eastern Connecticut.
In 1996, the Norwich State Hospital closed and the Mohegan Sun Casino opened
across the river, suddenly turning the hospital land on the outskirts of town into
prime real estate, with 419 acres in Preston and 63 acres in Norwich.
"You've got a massive amount of land bordered right on the river. That alone makes
it tremendously valuable," said Norm Krayem of Ledyard, the president-elect of the
Connecticut Association of Realtors.
Preston First Selectman Robert Congdon said state estimates put the value of the
land around $30 million after it is cleaned up.
Krayem said it is virtually impossible to find commercial land of that size, never mind
its proximity to interstates 395 and 95, the coveted Boston-New York market and the
world's two largest casinos -- Mohegan Sun and Foxwoods Resort Casino.
"It would certainly be at the top of the list because of the casinos in the area," he
said. "It may be one of the best locations that is begging to be developed."
Utopia Studios is the latest to get the hospital-land fever.
For about three years, Joseph Gentile, Utopia's chief financial officer, has worked to
get the title of the Preston portion of the property, which he says would make a
perfect home to his proposed theme parks, hotels, performing arts college and
movie studios.
Before Utopia arrived, Pfizer Inc. nibbled at the 480-acre property. The Mohegans
made a push. Spaulding & Slye, a Boston real estate developer, eyed it. They all
passed.
Several local leaders wanted to move Three Rivers Community College to the site,
but that effort failed, too.
More than two dozen other developers have expressed interest in the land to
Preston, though nearly all of them featured projects with a housing component,
which local zoning prohibits.
In 1998, the Planning and Zoning Commission rezoned the Preston portion into the
Thames River Design District, or resort-commercial.
Dan Kulesza, who was on the commission at the time, and who serves on the town's
Norwich Hospital Advisory Committee, said town leaders didn't know exactly what to
expect out of the property, but knew it could be big.
"The property speaks for itself," he said. "It's located at the edge of town. It is the
best spot in our town to have a commercial development."
The state, in its request for development proposals in 2004, reported the region's
demographics favored development.
"In fact, the most highly populated region of the United States is within a 500-mile
radius of the site, and the average income statistics for Connecticut are the highest
in the United States," the report stated.
The land is spread over six parcels and separated by routes 12 and 2A, both of
which are two-lane state highways. Nearly 80 percent of the land lies on two parcels
across from each other on either side of Route 12.
The site Utopia wants to use for most of its attractions is a 130-acre, mostly flat
parcel between Route 12 and the Thames River that was used for the core of the
hospital campus.
"With a mix of flat and sloped terrain," the state once advertised, "the favorable
topography provides a high usability potential."
Reach Adam Bowles at 425-4255 or abowles@norwich bulletin.com
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