New Haven New Upscale Address Needs Renters

New Haven's new skyscraper has it all: a high profile address, 34 majestic stories, environmental accolades: everything except tenants. 

According to the Yale Daily News, last week 360 State Street (named for its address) joined the ranks of the nation’s most environmentally friendly developments, becoming the third building in Connecticut to be certified LEED Platinum. The $180 million project will include the second tallest building in New Haven, as well as one of the most expensive.

But as advertisements pop up around New Haven in anticipation of the building’s completion in this summer, few in the city are renting. Just 19 of the 500 units have been reserved.

“It’ll take time for the building to absorb its units,” urban developer Alex Twining told the Yale Daily News.

Jack Hill, a New Haven realtor, says he expects the apartments to do well because it offers unique features not found elsewhere in the city. He added that 19 reservations of 500 seems reasonable at this time.

“That’s about what I’d expect,” Hill said. “Our season is just starting now.”

360 State is designed as a high residence with private amenities available only to the residents, including a health club, a concierge service and a daily-refreshed table of cookies and coffee in the building’s lobby.

It's not for people with shallow pockets, the building has already snagged a tenant for one penthouses, at the going rate of $5,100 per month.

Renters are expected to be able to move in around August 1.

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