47 Hatchetts Hill Rd, Old Lyme, CT 06371

Rare Development Opportunity: 38± acre buildable site in an ideal commuter location immediately off I-95. The opportunity to build a multifamily project of scale in a town like Old Lyme is extremely rare. The town has virtually no apartment inventory and with zoning, infrastructure and physical constraints the prospect of other new supply is very limited.

Multifamily Development Potential: Preliminary conceptual plans call for +/- 230 multifamily and townhouses units. Connecticut’s 8-30g law provides a clear permitting path for the project, with the town well under the 10% threshold. 8-30g requires 30% of the units to income/rent restricted in exchange for a streamlined permitting process with the state.

Top Notch Shoreline Town: Old Lyme is a historic small town on the Connecticut coastline. It is known for its commitment to the arts, beautiful beaches and excellent school system.

Access to Amenities: Located within five miles of numerous retail, dining and entertainment destinations, Old Lyme Landing is readily accessible to a myriad of conveniences.

Regional Accessibility: The property is located adjacent to I-95, and proximate to Route 1, 9 and I-395 providing the site with excellent regional accessibility. In addition, AMTRAK and Shoreline East train service is located nearby (8 miles; 13 mins) at the Old Saybrook train station.

“A” School District: #5 in CT U.S. News & World Report’s “Best High Schools”.

Booming Job Market: General Dynamics Electric Boat, headquartered nearby in Groton, CT, is expected to add 3,000+ jobs in 2025 and 5,000+ through 2030. In June-2025, Electric Boat acquired the former Macy’s department store at the Crystal Mall in Waterford (10 miles; 15 mins). EB plans to renovate the property for office and R&D use for approximately 700 employees.

Scenic Coastal Town: Old Lyme enjoys a scenic rural atmosphere with beautiful shorefront, wetlands, marshes, tidal lands, rivers, wooded trails, and a handful of charming village centers.

Education and Research: New London County is home to over 12,000 college and graduate students, with major research institutions and hospitals in the area.

Tourism and Gaming: Mohegan Sun (25± mins) and Foxwoods Resort Casino (30± mins) attract 18-19 million visitors annually, the Mystic Seaport Museum (25± mins) attracts 1-2 million visitors annually and the Mystic Aquarium (25± mins) attracts over 800,000 visitors annually.