The Goshen Housing Trust (GHT) and Mark Greenberg have reached agreement and signed an option to purchase the Village Marketplace at 59 Torrington Road. This group of properties offers existing residential rental units plus commercial rental spaces. It excludes the Shell gas station, which Mr. Greenberg will retain.
Mr. Greenberg made an offer to GHT while studies of another site on Beach Street were being conducted. An inspection and research into Mr. Greenberg’s property confirmed GHT interest in the site and agreement was reached after a period of productive negotiations. GHT thanks First Selectman Bob Valentine for his efforts to bring us together and Mr. Greenberg for working with GHT on terms that would support a transaction.
GHT expects to close on purchase of the properties within the next 12-18 months and assume responsibility for managing the property at that time. Mr. Greenberg will continue to operate the complex during this period, while GHT develops plans for the buildings and funding is arranged for the project.
The residential apartment units in the complex will be updated. GHT also plans to invest in improvements to the commercial units and the general appearance of the complex.
GHT will not proceed with development of the Beach Street property. From the start, the main interest by GHT in the site was the ability to connect to the Woodridge Lake Sewer District. However, investigation raised issues with the ability to connect that were not easily resolved. These issues would continue to delay a project on this site and add to its cost.
“In time, we expect to adapt the plans developed for the Beach Street apartments to the Village Marketplace, adding new affordable units that will include senior-suitable units”, according to Chris Sanders, President of GHT. “Village Marketplace has the potential to become the ‘town center’ of Goshen. We have an opportunity to create a community in which people can live affordably, shop, and even work.”