433 Chapel St New Haven, CT
Mixed Use | 32,953 SqFt
Marketing description
The Carriage Factory — 433 Chapel St, 56 & 64 Wallace St, New Haven (Mill River District)
Scalzo Commercial & New Development is proud to exclusively present a rare chance to reposition a landmark complex at the gateway to New Haven’s Mill River District. The Carriage Factory—the former M. Armstrong & Co. complex—sits within an emergent employment and housing corridor linking Wooster Square and Fair Haven, minutes from Downtown and Long Wharf.
Offering: three contiguous parcels—433 Chapel St, 56 Wallace St, and 64 Wallace St—assembled as an ±0.6-acre infill site with historic fabric and scale that support a range of mixed-use or residential outcomes.
Entitlements & Incentives
Special permit variance APPROVED for a 25-unit multifamily conversion—establishing a clear adaptive-reuse path.
Located within New Haven’s designated Opportunity Zone geography and Enterprise Zone footprint—positioning the site for equity/tax advantages and local incentives.
Listed on/eligible under the National Register of Historic Places, making the project eligible for State (CT) and Federal Historic Rehabilitation Tax Credits to strengthen returns.
Why it works
Proven demand for housing in and around Mill River, with active public planning and connectivity investments underpinning neighborhood growth.
Authentic industrial architecture with documented historic significance—ideal for differentiated, financeable adaptive reuse.
Bottom line: Whether your thesis is adaptive-reuse multifamily, mission-driven housing with credits, or strategic urban infill, The Carriage Factory offers a credible path from concept to execution with approvals, incentives, and location advantages aligned.
Additional info:
https://buildout.com/plugins/0b66af4567d757d376b2ba9ffaac0609be34dab4/inventory/1321246-sale
ALL CURRENT OFFERS ARE BEING REVIEWED. IF INTERESTED CONTACT TO PUT IN A BID.
Investment highlights
• Prime Redevelopment Opportunity
Project with approved zoning variance for multifamily apartment conversion.
• Strategic Location
Situated in the Mill River District, adjacent to Wooster Square, The Long Wharf, and minutes from Downtown New Haven and Yale University.
• Historic Character
Iconic former industrial property with deep community ties — ideal for adaptive reuse and placemaking.
• Contiguous Parcel Assembly
Sale includes three parcels: 433 Chapel St, 56 & 64 Wallace St totaling 0.59 acres, enabling efficient site planning and scalability.
• Opportunity Zone Location
Offers access to substantial tax incentives, deferrals, and abatements for long-term investors.
• Strong Market Fundamentals
New Haven’s growing rental demand, limited Class A/B supply, and proximity to major employers (Yale, healthcare, biotech) make this a high-upside development.
• Urban Infill Advantage
Rare assemblage with direct access to transit, walkable amenities, and cultural attractions — ideal for workforce or market-rate housing.
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