Manchester Finalizes $3.6 Million Broad Street Parkade Sale to Anthony Properties

MANCHESTER, CT — Manchester officials Thursday announced that an agreement conveying the former Broad Street Parkade property to Dallas-based Anthony Properties has been finalized.

The sale price is $3.6 million and the developer is anticipated to invest $80 million in the project overall, Manchester officials said.

The announcement marks a major milestone in the town’s ongoing redevelopment efforts on Broad Street and the infamous Parkade property. The agreement "signals the start of a transformational project, resulting from years of dedicated planning and public investment, and establishes the
groundwork for the long-term transformation of the site," Manchester officials said.

Construction is anticipated to begin within the month.

The approved redevelopment plan calls for a private, mixed-use development centered around 232 "market-rate" residential units and resident amenities; including a dog park,
pool, pickleball courts, and community space, Manchester officials said.

The project will ultimately also include approximately 13,000 square feet of commercial development along Broad Street and
various public improvements, they added.

The goal is to create,a "walkable, mixed-use district on Broad Street where residents can live, work, and visit surrounding businesses in a neighborhood environment," Manchester officials said.

As part of the agreement, the Town will contribute to public infrastructure improvements to support the project and "ensure long-term functionality of the site," Manchester officials said.

They added, "These investments build upon prior public improvements in the corridor and reflect a continued strategy of leveraging private development to improve public spaces."

Public improvements featured in the plans include the extension of the Bigelow Brook Greenway, an original component of the town's "redevelopment vision." The greenway will extend through the site, improving access to Center Springs Park, Downtown, and the Cheney Historic
District.

Green Manor Boulevard will be improved to meet public standards, "ensuring the roadway infrastructure aligns with both the needs of the new development and the public," town officials said.

They added, "These improvements, along with prior projects such as the extension of Center Springs Park to Broad Street, are also included as envisioned in the original Redevelopment Plan."

Town officials, led by Boards of Directors and Town Redevelopment Agency, have long identified redevelopment of the Parkade site for a major piece of the broader revitalization along the Broad Street corridor.

"With the signing of this agreement, Manchester takes a significant step forward in realizing that vision and advancing a new chapter of growth and investment in the community," officials said.