Until recently, the town hadn’t approved a multifamily development since 2013, which developers believe created pent-up demand. Now, there are at least six multifamily proposals underway. “I think the main issue is that Farmington has been underserved,” said Jacob Reiner, chief operating officer of CSRE, a real estate acquisition and management company based in Lakewood, New Jersey. “There hasn’t really been any new construction. The supply really hasn’t kept up with the demand.” CSRE is one of the first companies to take advantage of Farmington’s special innovation floating zone. Farmington Economic Development Director Rose Ponte said the new zoning laws give developers more flexibility and promote the type of housing the town needs — while leaving legislative authority to the commission.
https://www.hartfordbusiness.com/article/housing-boom-backed-by-employer-support-farmington-sees-wave-of-multifamily-development