NEW HAVEN – Senate President Martin Looney and state Representative Al Paolillo, both Democrats from New Haven, today announced that the State Bond Commission has approved a $3 million grant for the City of New Haven to help build a new bioscience lab and office tower at 101 College Street that could create as many as 1,000 new jobs.
The state grant will help New Haven design and construct tunnels, driveways and city sidewalk improvements associated with the proposed development of 101 College Street by Winstanley Enterprises, which plans to spend $100 million on a 350,000 to 550,000 square foot building that will include a privately-owned public plaza and about 175 on-site parking spaces. The project is part of the Downtown Crossing project connecting downtown New Haven with the Hill Neighborhood.
“High-quality lab space is essential to New Haven’s economic development in the science and technology sectors, and this state investment will further enhance New Haven’s leading position in this increasing important part of our economy,” Sen. Looney said.
“Thank you to the governor for working with the delegation to secure the release of these funds to build the necessary infrastructure that will continue to attract economic development to our city in this education and bio-tech corridor,” Rep. Paolillo said. “It goes hand in hand with city’s economic development plan to grow jobs, our grand list, and to continue to attract business and investment in this area.”
“101 College is a project of statewide economic significance, and with assistance from Governor Lamont’s workforce team, the development will also be closely attached to the Hill neighborhood through a workforce pipeline at Career High School and scholarships for local students interested in careers in the biosciences,” New Haven Mayor Justin Elicker said.
Winstanley has already developed more than a million square feet of lab and office space in New Haven, including sites at 100 College Street, 300 College Street, 25 Science Park, 275 Winchester Avenue, and 344 Winchester Avenue.
The state’s financial assistance is contingent on a written agreement between the city and the developer; a total of $8 million will be provided in installments.
The State Bond Commission met via teleconference today at 11 a.m. in the Old Judiciary Room of the State Capitol in Hartford.