Rio Vista Development

Berlin, CT

After acquiring the 165+ acre Pistol Creek Golf Course in Berlin and Middletown, CT in an all-cash transaction that closed in 60-days from contract signing, the quasi public golf course was closed-down immediately. We proceeded with plans to build an upscale, age-restricted residential community surrounding a 9-hole executive golf course. A significant amount of community opposition to this plan resulted in extensive litigation; ultimately, leading the Town of Berlin to acquire the Clubhouse and approximately 75+ acres of land at a significant price, just before collapse of the residential real estate market. We retained approximately 20+ acres of land in Berlin, CT and proceeded to obtain approvals for Thirteen, Single-Family Estate Homes on 1-3 acre lots. Conveniently located near several major highways and equidistant between Hartford and New Haven, CT, these homes were envisioned to be the nicest homes in town. Due to a collapse of the residential real estate market in Connecticut, as well as changing demand for housing, none of the 13-homes have been commenced. We have since altered our plans for this property and are pursuing a 320+/- unit residential development; whereby, 30% of the units will be set aside as “affordable/workforce” housing.