Tax Break Endorsed for Wethersfield Fun Zone Property

WETHERSFIELD, CT — The Wethersfield Town Council has endorsed a six-year tax abatement program that would assist the transformation of the former Fun Zone on the Silas Deane Highway into an apartment complex.

The Hartford Courant reported that the abatement, worth $1.4 million, was unanimously approved by council members Monday.

The Courant story points out that the former Fun Zone property, located at 1178 Silas Deane Highway, or state Route 99, has been vacant for 20 years and was earmarked in the town’s master plan for redevelopment in a combination of 111 market-rate apartments and retail space.

The project is being brokered by Lexington Partners LLC. It is being called The Borden.

Here is a project description from Lexington's portfolio:

"Situated on Rt. 99 in Wethersfield, CT, with a daily traffic count of over 25,000 cars, the property is ideally suited for retail with apartment homes. The Silas Deane Highway is a densely populated commercial and residential corridor with numerous national retail tenants. The property offers convenient access to I-91 at Exit 24."

Photo Credit: Lexington Partners