What person, project, transaction or market trend had the greatest impact on your industry this year? The completion of 9 Steele Blvd. which is the first building in the $18 million mixed-use TOD project Steele Center developed by Newport Realty Group. It is next to the Berlin Train Station and has brought excitement as well as new firms such as Coles Road Brewing, Provision State Coffee and Hop Haus Gastropub (opening in spring 2023) into the immediate area.
What was your most important professional accomplishment or most notable project, deal, or transaction in 2022? We have just done our 68th ribbon cutting or ground-breaking since COVID started. These are either new businesses opening up in town, businesses expanding in town or relocating to town. In addition, by year’s end we will have given out 25 Milestone Awards to Berlin firms celebrating from 25 up to 120 years in business.
How has your career path changed in 2022? It has changed in that I am now “targeting” firms (restaurants in particular) that we need in Berlin. We have had a number open up since COVID began, but still are in need of Mexican, barbeque, a bakery and a salad/vegan restaurant.
In addition, I am looking to speak to firms that would consider a location in the geographic center of Connecticut that service or supply the manufacturers in our area.
What emerging trends will drive investment and development in 2023? As we have seen in 2021 and 2022, the main driver for investment is the multifamily (apartment) sector. The majority of the business start-ups and expansions are in locations adjacent to (or within) these multi-family developments. By the end of 2023, we expect to have over 225 new apartment units ready for occupancy in four different developments now under construction!