Belfonti Companies Achieves Remarkable 95% Occupancy Rate
Belfonti Companies is excited to announce that the residential component of Kelson Row has reached an impressive 95% occupancy rate, only 13 months after the first residents moved in. This mixed-use development, consisting of 213 residential apartments along with retail spaces, has shown exceptional demand in the market.
Rapid Stabilization of Residential Component
Janice Miner, the Chief Operating Officer at MCR Property Management, expressed pride in this rapid achievement, noting that the first move-ins began in November of 2024. Her comments highlight the incredible success of the Kelson Row project compared to other similar communities in the surrounding area.
Community Development Goals
Michael Belfonti, the owner and developer of the project, emphasized his commitment to attracting robust retail partners to occupy the remaining commercial spaces. His vision for Kelson Row not only focuses on residential growth but also aims to foster local business engagement and enhance community life.
Partnerships Driving Forward
In partnership with the Town of Rocky Hill, Belfonti Companies aims to build a premier destination that invigorates economic activity and encourages community involvement. Allan Smith, the Mayor of Rocky Hill, mentioned that ongoing leasing initiatives will contribute toward achieving a vibrant mixed-use environment that serves both residents and visitors alike.
Funding the Project
The primary construction financing for Kelson Row was secured from Liberty Bank of Middletown. Christa Smith, Vice President of Commercial Real Estate at Liberty Bank, noted the rewarding partnership the bank has enjoyed with Belfonti Companies. They have financed several projects for the company and consistently found the outcomes to exceed expectations.
About Belfonti Companies
Belfonti Companies, LLC is headquartered in Hamden, Connecticut, and actively seeks real estate development and investment opportunities across the U.S. and internationally. Established under the leadership of founder and CEO Michael Belfonti, the firm has built a diverse portfolio, including residential communities, office buildings, and retail centers, managing millions of square feet of real estate. To date, their impressive track record includes over two billion dollars in transactions.
Company Contact Information
Belfonti Companies, LLC
2319 Whitney Avenue, Suite 1A
Hamden, CT 06518
Phone: (203) 230-1600
Fax: (203) 281-3366
Frequently Asked Questions
What is the occupancy rate of Kelson Row?
The occupancy rate of Kelson Row is currently 95%.
When did the first residents move in?
The first residents moved in during November of 2024.
Who is financing the Kelson Row development?
The construction financing is provided by Liberty Bank of Middletown.
What is the focus of Belfonti Companies?
Belfonti Companies focuses on real estate development, management, and investment.
Where is Belfonti Companies located?
Belfonti Companies is located in Hamden, Connecticut.
