High Meadows

HIGH MEADOWS PROJECT UPDATE

Town Received 3 applications for qualified firms:

The Community Builders and Habitat for Humanity
The Carabetta Companies
Dakota Partners

Proposal Links are below
Recordings of each of the Developer Interviews with Advisory Members and Town Staff are available on the link below
Each Developer committed to paying the $1.5M purchase price.
All proposals met the minimum requirement that 20% of rental units had to be affordable for persons with incomes at or below 80% AMI. (Area Median Income)
The Advisory Committee selected Dakota Partners Proposal, https://dakotapartners.net/, to create 202 units in combination of rental and for-sale duplex units. Based on this recommendation, a Conditional Award has been made to the developer. The Hamden Legislative Council is responsible for making the final determination.
Colliers Advisory Service completed an analysis of the proposals received. The Dakota proposal received the highest ranking. Colliers Analysis is available on the link below
For sale units are not included in affordability requirements. Projected sales prices are based on current costs and market conditions.
Town will provide assumptions on impacts to schools and other public service costs.
Any potential traffic impacts will be considered by the Hamden Planning and Zoning Commission. The Developers were not required to provide a traffic studies at this stage in the process.
Dakota Partners’ proposal prioritizes the preservation of open space. Proposal contemplates that a portion of the property will be transferred to the Hamden Land Conversation Trust.
The Town has not committed to providing any direct subsidies for this project.

HIGH MEADOWS ESTIMATED PROJECT SCHEDULE


Developer Selection/Recommendation	March 2024
Town post Developer interviews Sessions, proposals and completed analysis on Economic Development Website (www.hamdenedc.com)	April 2024 (information will not be posted until Developer formally accepts Town conditional offer)
Developer Presentation to Community on proposed Development	May 2024 (Date and location TBD)
Presentation to Legislative Council for Approval	May 2024 Subject to Change
Execution of Development Agreement between the Town and Selected Developer	September 2024 Developer has time to complete due diligence on parcel and Town must negotiate business terms for the proposed development.
Developer Submission to Planning and Zoning Commission for project approval	March 2025
Planning and Zoning Commission Approval of project	May 2025
Execution of Development Agreement between the Town of Hamden and the Developer Developer has agreed to the Towns purchase price of $1.5M	June 2025
Closing on Land between Town of Hamden, State of CT and selected Developer	June 2025
Anticipated Construction Start	August 2025