Amazon developer offers $2.5M for 157-acre building site in Waterbury/Naugatuck

Pennsylvania-based Bluewater Property Group is offering Waterbury and Naugatuck $2.5 million for a 157-acre site on the municipalities’ shared border, where the developer hopes to build a distribution facility for Amazon. Bluewater will require a deal on local property taxes, must clear regulatory land-use reviews and must finish its own due diligence on site conditions before a purchase is finalized, according to a written summary shared with Waterbury’s Board of Aldermen ahead of its Monday meeting. Representatives of Pennsylvania-based Bluewater will appear at a meeting of Waterbury’s aldermen Monday night to explain basics of their proposal, Mayor Neil O’Leary said. Bluewater’s founders were among the senior management and founders of KTR Capital Partners, a private equity fund that was sold to real estate investment trust Prologis for $5.9 billion in May 2015. Bluewater has repeatedly pursued projects for Amazon.

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