The developer of the Shaw’s Landing condominium complex on Bank Street is proposing to finish a project it started more than a decade ago and add 173 apartment units to the downtown. Cambridge, Mass.-based Oaktree Development first broke ground on Shaw’s Landing in 2004 and had at the time envisioned a three-phase plan for 120 upscale condominium units — the first of its kind in downtown. The project ended in 2006 after construction of one building and 35 condo units. While it is unclear whether the developer is seeking tax abatements for the project, the development is located in an Enterprise Zone that offers a seven-year graduated exemption of tax increases resulting from real property improvements. The project, if approved and built, would add to a growing residential market in New London where there are multiple residential developments either under construction or in the planning stages.
https://www.theday.com/local-news/20201028/173-unit-residential-development-pitched-for-bank-street-in-new-london