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Developers of 3 Norwich buildings love city’s charm

NORWICH — A Bronx developer has closed this week on the sale of three commercial buildings on lower Broadway in downtown Norwich, with plans to develop them in the near future.

Randy Persaud is the new owner of the Fairhaven building, at 24-28 Broadway, along with 51-53 and 59-61 Broadway, which are on either side of Billy Wilson’s.

Persaud’s Stackstone Group has partnered with the Norwich Community Development Corporation and Patriquin Architects, as well as several engineering and construction firms, to transform the properties on Broadway. Construction is scheduled to begin this month and continue through summer of 2018, according to a press release from Stackstone.

“This project is incredibly exciting for our team,” Persaud said. “We fell in love with the charm and beauty of historic downtown Norwich, and we’re thrilled at the opportunity to give Broadway some new life.”

The downtown project will include 18 residential units at 26-28 Broadway, and four residential units at both 51-53 Broadway and 59-61 Broadway.

Each apartment will include high-end amenities such as quartz countertops, stainless steel appliances, hardwood flooring and “smart-home” technology. All locations will also provide ground-floor commercial space for new restaurants, bistros and shops, according to Stackstone.

The cost of all three projects is expected to total more than $2.2 million, Stackstone said.

Stackstone Group said it would fund the work through a mix of personal financing and private investors. The firm also is working alongside NCDC to explore funding resources through the organization’s various grant assistance programs.

The derelict Fairhaven, once a 21-unit apartment building, was bought in late 2013 by Stamford-based JMD Manor LLC but has not been developed.

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