Kelson Row Residential Component Reaches Stabilization in Record Time
Belfonti Companies is pleased to report that the residential component at Kelson Row in Rocky Hill, Connecticut has stabilized at 95% occupancy in just 13 months.
Kelson Row is a mixed-use development with 213 residential apartments and a retail component. “The first move-ins took place in November of 2024, so this is a phenomenal result compared to other new apartment communities in the region that are in lease-up,” said Janice Miner, Chief Operating Officer of MCR Property Management (Kelson Row’s property management company and a Belfonti-related entity). (www.mcrmanagement.com)
“We are working with some strong retail tenants and hope to have at least a portion of the retail space leased very soon,” said the developer/owner, Michael Belfonti.
“Belfonti Companies, in partnership with the Town of Rocky Hill, has delivered a best-in-class asset. Our focus now is on continuing to drive economic activity and community life as we develop our historic district. As this project continues to lease, it will achieve the goal of a true mixed-use destination that supports local businesses and attracts new visitors,” said Allan Smith, Mayor of Rocky Hill. (www.rockyhillct.gov)
Primary construction financing for Kelson Row was provided by Liberty Bank of Middletown, CT. “This is the second development in Middlesex County that Liberty Bank has financed for the Belfonti Companies, and both times the Belfonti team exceeded our expectations. It has been a rewarding partnership for all of us and we are already looking forward to the next opportunity they bring to us,” said Christa Smith, Vice President of Commercial Real Estate at Liberty Bank. (www.libertybank.com)
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
