BELFONTI COMPANIES BUILDING MIXED USE DEVELOPMENT IN ROCKY HILL

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Jul 21, 2022, 14:07 ET

Kelson Row - Mixed Use Development Underway

ROCKY HILL, Conn., July 21, 2022 /PRNewswire/ -- The Belfonti Companies recently purchased a 12.65 acre site which formerly housed the now defunct Ames headquarters in Rocky Hill, CT. The land loan with Bankwell Bank (www.mybankwell.com) closed in June of 2022.

Bob Palermo, the Senior Vice President of Commercial Lending for Bankwell, said that this is the second loan that Bankwell has done with the Belfonti Companies. "We previously provided a construction loan for Michael Belfonti's project in Cromwell, and we are pleased to be working with his team again as the lender for this new venture in Rocky Hill," said Mr. Palermo.

The developer (Belfonti) plans to erect a mixed use residential and commercial property on the site which will include 213 residential units, 5,000 square feet of office space, and 15,000 square feet of retail. Demolition of the Ames building is already underway, and the Belfonti team has been busy with an extensive branding and interior design process that has included input from Rocky Hill town officials as well as two professional companies: Stantec (www.stantec.com) and Helen Piteo Interiors (www.helenpiteointeriors.com). By unanimous decision, the new residential development will be called "Kelson Row" and the retail portion will be called "The Shoppes at Kelson Row".

"The choice of name comes from the town of Rocky Hill's historical significance as a ship-building community," said Ray Carpentino, the Economic Development Director for the Town of Rocky Hill. "The word 'kelson' is a derivative of 'keelson', which is the reinforcing structural member or backbone on top of the keel in the hull of a wooden vessel," he explained.

"We liked the name because it is our expectation that Kelson Row will be a supporting member strengthening the entire Rocky Hill community," added Lisa Marotta, the Mayor of the town of Rocky Hill.

Belfonti has also chosen the well-known professional firms Studio Architects (www.studioarchitects.us) for the architectural services and SLR Consulting (www.slrconsulting.com) for the engineering services for Kelson Row. "These professional teams will help us to deliver yet another 'best in class' residential and retail community," said the developer, Michael Belfonti.

About Belfonti Companies: Belfonti Companies, LLC (headquartered in Hamden, Connecticut) actively pursues real estate development and investment opportunities throughout the United States and internationally. Belfonti Companies is a family of organizations that focus on investment, development and management of real estate, thus playing a significant and multi-faceted role in the real estate market. Under the leadership of Michael Belfonti (the company's founder, President and CEO), the company has successfully owned and managed millions of square feet of real estate over the years and has completed billions of dollars' worth of transactions. At the present time the group's portfolio contains a wide variety of assets including residential apartment communities, office buildings, retail centers and industrial parks. www.belfonti.com

Belfonti Companies, LLC
2319 Whitney Avenue, Suite 1A
Hamden, CT 06518
Phone: (203) 230-1600
Fax: (203) 281-3366

SOURCE Belfonti Companies, LLC