Homepage / Money

70-Home Development Gets Green Light

Mayor Optimistic About Economic Upturn

POSTED: 6:00 pm EST November 13, 2008
UPDATED: 8:36 pm EST November 13, 2008

With so many foreclosures and bad mortgages who would want to build and sell one home, let alone 70?

A Hartford developer has gained approval to build more than 70 homes on a 30-acre site near the Waterbury-Prospect town line.

Though the proposed development hasn’t come without complaints, Waterbury Mayor Michael Jarjura remains optimistic.

“I think people realize we're not going to be in this forever, to get ready for the upswing,” he said.

The project was initially pitched before the housing market tanked, officials said. They were supposed to be $250,000 homes, but the mayor said the city approved the final plan this week because the developer said the houses will be affordable.

The people who already call this area home said they hope the new project doesn't take over the neighborhood.

The developer said the project will be done in phases and is set to begin in the spring.

Links We Like

Sponsored Content
Find out what a sputtering economy and an increasingly difficult to crack job market means to you. More

If your credit is shabby, you'll need to shore up your score to convince a lender you're worthy. Here's how to boost your point total. More

Acupuncture, massage, or other complementary therapies could manage your type-2 diabetes. Find out whether they can help you. More

You’ve heard of certain foods that can help you prevent cancer and even halt the spread of the disease. Find out if these anti-cancer foods really work. More

Credit Report

560? 675? 720? The average US Credit Score is 692. What is your score? See it online for FREE! More

Best Local Rates On...



LocalNational

30 Yr Fixed Mortgage4.96%5.02%

48 Mo New Car Loan6.40%6.79%

$30k Home Eq Loan6.89%8.33%

6 Month CD1.08%1.13%
Help! I don't understand!
More Rates


Sponsored Links

Stock Quotes

Get a Quote
Enter Symbol


Gas Prices

Gas prices
Keep tabs on the latest news, and calculate the cost of a trip in our special section. More


E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters