Michael L. Nealy, Business Manager
Around the Local
Connecticut's Community Investment Fund 2030 board has approved nearly $63 million in grants for 38 community development projects across the state, spanning affordable housing, office-to-residential conversions, workforce training, and neighborhood revitalization. Highlights include $6 million each for demolition of the St. John Towers site in Stamford and conversion of the 111 Founders Plaza tower in East Hartford into residential apartments. Grants still require final State Bond Commission approval.
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Charter Oak Communities, formerly the Stamford Housing Authority, is moving forward with the second phase of a $60 million renovation of Stamford Manor, an 11-story affordable senior housing development at 26 Main Street in downtown Stamford. The project will modernize units and building systems at the federally assisted property while keeping residents in place during construction.
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German consumer goods manufacturer Henkel has broken ground on a new 45,000 square foot Center for Research and Development at 9 Trefoil Drive in Trumbull, its largest non-manufacturing capital investment in North America in a decade. The $70 million project will consolidate the company's North America Consumer Brands R&D teams from three separate Connecticut locations into a single campus expected to open at the end of 2027.
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The 704 MW Revolution Wind offshore wind project has begun delivering power to Connecticut and Rhode Island after surviving two Trump administration stop-work orders reversed in federal court. Built by more than 1,000 local union workers, the 65-turbine project is expected to power over 350,000 homes and save New England ratepayers up to $500 million per year in wholesale energy costs once fully operational.
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Profile of Nscale founder Josh Payne, Australian former coal miner who raised $2 billion at $14.6B valuation for AI data center company, with Sheryl Sandberg joining board amid infrastructure boom
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