Simon Konover Company hosts ribbon cutting for $80 million project

November 20, 2014 - Connecticut

Shown (from left) are: Commissioner Donald DeFronzo; James Wakim; Commissioner Evonne Klein;
John Cookley; Marie Mazzotta; Karen Przypyszny; Steven Konover; Jane Konover Coppa; Eric Chatman;
and Mayor Erin Stewart

The Simon Konover Company held a ribbon
cutting event to celebrate the revitalization and rebranding of the former
Corbin Heights and Pinnacle Heights Extension housing communities.
"This event celebrates the essence of the public-private partnership, and we
acknowledge a talented community of professionals who have worked tirelessly over many years to bring this revitalization dream to a reality," said James Wakim, president and chief operating officer of The Simon Konover Company in his opening remarks. "Welcome home."
At the groundbreaking event, The Simon Konover Co. introduced the
rebranded communities, which going forward will be known as Industria Commons and Brytania Square, respectively. Erin Stewart, mayor of the city, welcomed dignitaries and guests and congratulated all who
contributed to the transformation of the housing communities.
"I want to recognize the former mayors, both Democrat and Republican, who helped shape this project over the last 15 years and helped bring it to
fruition," said mayor Stewart.
In a prepared statement, Joe Hagan, president and CEO of National Equity
Fund, said, "Both Industria Commons and Brytania Square set a new standard
for how to preserve and upgrade Connecticut's state-supported housing
portfolio."
National Equity Fund is the Low Income Housing Tax Credit syndicator for the revitalizations and an affiliate of the Local Initiatives Support
Corp. (LISC).
The Simon Konover Co. acquired the Corbin Heights and Pinnacle Heights Extension housing communities in late May 2012, years after winning an RFP bid for these revitalization projects. The properties were
previously owned by CPS Properties, Inc., a subsidiary of the Connecticut
Housing Finance Authority (CHFA)
The $80 million project included the renovation and demolition of
the World War II era housing and the construction of 301 new homes. The event was held at the new community center at Industria Commons.
Haynes Construction of Seymour served as the general contractor for the
Corbin Heights project. D'Amato Builders of Norwich was the general
contractor for Pinnacle Heights Extension. Paul B. Bailey Architect, LLC
provided architectural services. Konover Residential Corp. provides
property management services for the housing community.
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