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March 14, 2023 REAL ESTATE

Developer buys coliseum parcel, advancing redevelopment plans

PHOTO | Contributed, City of New Haven An aerial view of the coliseum redevelopment area.
By Hanna Snyder Gambini

A developer has purchased a part of the former New Haven Coliseum property for more than $10 million, where sweeping redevelopment plans include a new bioscience building and multi-unit apartment complex.

North Carolina-based Ancora 265 S. Orange Holdings LLC bought the parcel from 275 Orange Phase 1-C LLC for $10.68 million in a deal recorded March 8, according to city land records.

Ancora is a bioscience property development company that will look to transform the coliseum site, which has been sitting vacant, used as a parking lot, for more than a decade.

The New Haven City Plan Commission earlier this year approved plans that include a new 11-story, 200,000-square-foot bioscience building with medical labs to be used in partnership with Yale and city bioscience companies, dubbed Square 10. 

Construction is currently underway for neighboring Phase I, which includes a 200-unit apartment building, 16,000 square feet of retail space and 25,000 square feet of public open space.

That project is led by an affiliate of the property 275 Orange, Norwalk-based Spinnaker Real Estate Partners and principal at LWLP New Haven LLC.

The project will also include a new parking garage with 650 spots, meant to serve all the structures on the property in addition to visitors to the area, which is becoming an emerging biosciences hub.

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