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Real Estate Report: ‘Price Pockets’ Enjoying Uptick

By Judy Szablak

Special to WestportNow

It may not feel like spring outside lately, and it doesn’t really feel like a typical spring market in Westport, either.

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Featured Home: This home at 6 Buena Vista Drive is listed at $1,975,000. (CLICK TO ENLARGE) Photo courtesy of Higgins Group Bedford Square.

That is, unless you are lucky enough to be in one of the “price pockets” enjoying an uptick in activity. It is critical to pay attention as to what kind of activity is happening in your range, so that you can plan to buy or sell at the most opportune time

It is important to remember that the available amount of inventory in a particular range translates to a lot of competition, which adds to market time and puts the supply vs. demand factor into play, which has an effect on pricing.

For example, the price pockets with the most available homes for sale are within the $2.25-$2.5 million range with 25 properties available, and they have an average market time of 110 days, with a cumulative market time of 317 days.

Forum Explores Challenges Facing Downtown Westport

By Jarret Liotta

It was a packed house tonight for what the Coalition for Westport (CFW) hopes is the first in a series of community forums focused on the future of downtown.

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About 75 persons tonight attended the Coalition for Westport’s forum on the future of downtown, held at The Visual Brand on Church Lane. (CLICK TO ENLARGE) Jarret Liotta for WestportNow.com

The event by the CFW, a nonpartisan political party focused on Planning & Zoning matters in Westport, was held at the office of The Visual Brand on Church Lane.

The company is operated by Randy Herbertson, president of the Westport Downtown Merchants Association, who was also a panelist.

About 75 persons were in attendance, including town officials, developers, retail landlords and citizens.

Comings & Goings: Golden Pizza Opens

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Golden Pizza has opened at 1759 Post Road East, in the strip of stores across from Stop & Shop, in the space previously occupied by Jordan’s Pizza. Owner Matt Maras, 50, co-manages the eat-in/takeout eatery with his brother Kerem, 35 and son Max, 20. A family business enterprise, they also operate the Red Tomato pizzeria in Madison since 1994. The shop is open weekdays until 10 p.m. and 11 p.m on weekends. Jordan’s pizza restaurant, which opened at the Post Road East location in December 2010, continues to operate at two locations in Norwalk, 369 Westport Ave. and 252 Flax Hill Road. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Developer Charney Talks Affordable Housing and Being Persistent

By James Lomuscio

Developer Felix Charney said today that he expects Westport’s Planning and Zoning Commission (P&Z) to deny his application to build a 187-unit rental complex in Saugatuck when the commission meets Thursday, May 23.

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Developer Felix Charney: “This is not a greed-driven endeavor ... There’s no need for rudeness and rancor.” (CLICK TO ENLARGE) James Lomuscio for WestportNow.com

He also said he is going straight to court to sue the town under the state’s affordable housing statute 8-30g.

If anything, Charney, principal of Southport-based Summit Development, is persistent. The expected suit will be his eighth try since 2002 to build an affordable housing, rental complex on Hiawatha Lane in Saugatuck.

“This is not a greed-driven endeavor,” said Charney, adding that his company is doing well financially, having built 1,500 residential units and 7 million square feet since he started out in 1982. “I’m very busy. I don’t need this. This is something I believe in.”

House Gives Final Approval to Pilot Hemp Program

By Keith M. Phaneuf and Jenna Carlesso

www.ctmirror.org

The House of Representatives gave unanimous approval late today to a bill authorizing a pilot program for the production and sale of hemp.

Gov. Ned Lamont announced tonight that he would sign the measure in the next few days. The Senate approved the bill last month.

“This legislation will strengthen our efforts to grow our agricultural economy and create jobs, and do so in a responsible manner by opening a competitive market to thousands of Connecticut’s farmers,” Lamont said.

“With this program, farmers will have the opportunity to bolster their profits with hemp, and veteran and first-time farmers alike will be attracted to a new and growing market that will offer crop diversification, increased revenue, and expertise in an expanding field.”

Westport Property Transfers April 15-19, 2019

Westport property transfers as reported by the Town Clerk’s office for the period April 15-19, 2019:

19 Bauer Place Ext. LLC to Carlos Avila, 19 Bauer Place Extension, $1,475,000Westport Property Transfers

Jason & Kimberly Kries to Sisu Holdings LLC, 25 Edgemarth Hill Road, $2,500,000

Joseph R. & Lindley H. Maglio to Omri D. Ben-Amos & Elizabeth J. Gertz, 8 Tower Ridge, $1,575,000

Comings & Goings: Surface to Post Road East

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Surface, a 3,000-square foot showcase for custom fabrication stone surfaces, has opened at 1320 Post Road East in the newly constructed commercial strip that includes Kohler and Bird Salon. According to Surface lead designer Jo Ann Ceasrine, a Westport resident, the site is the first showroom for the 15-year-old business owned by Italy-born Daniel Manegta who operates The Stoneworkshop fabrication facility, 1108 Railroad Ave., Bridgeport. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

WestportNow Teardown of the Day: 16 JoAnn Circle

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An application for a permit to demolish the house at Westport’s 16 JoAnn Circle, off Roseville Road, is in process. Built in 1965, the dwelling has 2,170-square feet, is situated on a 1.1-acre property and changed ownership in January 2015 for $996,000. Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Coalition Forum Focuses on Downtown’s Retail Challenges

The retail future of downtown Westport will be the focus of a Coalition for Westport (CFW)-sponsored, public forum set for Monday, May 13, from 7 to 8:30 p.m. at The Visual Brand located at 56 Church Lane, CFW officials announced.

The forum, which is open to the public, will feature three speakers with experience in regional and local retail and development trends for creating a 21st century downtown, the announcement said.

Scheduled speakers are: David Kooris, deputy commissioner of CT Economic and Community Development (DECD); Randy Herbertson, president of Westport Downtown Merchants Association; and Joseph McGee, vice president of public policy and programs for The Business Council of Fairfield County.

Coalition member Julie Belaga is set to moderate the moderate the program, which will be introduced by G. Kenneth Bernhard, CFW vice chairman.