**CPP and Beacon Communities Announce Rehabilitation of Historic Brewery Square Apartments in New Haven**
Community Preservation Partners (CPP) and Beacon Communities have announced the acquisition and planned rehabilitation of Brewery Square Apartments in New Haven, Connecticut. This marks CPP’s second major investment in the Fair Haven neighborhood, following the recent completion of renovations at the nearby Fairbank Apartments.
Situated at 1 Brewery Square along the Quinnipiac River, the Brewery Square development comprises two buildings housing a total of 104 units. Originally constructed in 1896 as a brewery, the buildings were converted into residential apartments in the early 1980s. The new owners aim to preserve the historic character of the site while undertaking significant renovations and extending affordability protections for residents.
The redevelopment project represents an estimated $43 million investment, with planned renovations averaging approximately $112,342 per unit. These upgrades will not only modernize the living spaces but also ensure the long-term viability and affordability of the property.
“This acquisition allows us to increase and deepen affordability while also extending the life of a property that is deeply cherished by the community,” said John Fraser, Vice President of Development at CPP. “We are proud to protect the historic fabric of this neighborhood while delivering modern upgrades that respond directly to resident needs.”
The partnership between CPP and Beacon Communities underlines their ongoing commitment to preserving and enhancing affordable housing in historically significant urban areas like Fair Haven.
