166R Waterford Pkwy S, Waterford, CT 06385 For Sale

The wooded property measures 20.44 acres, and has an IP-1 zoning designation which allows for a wide variety of uses as of right such as professional offices, medical clinics, research labs, manufacturing, schools, and warehousing; as well as special permit uses such as places of worship, sports facilities, motels and hotels, veterinary hospitals, nursing homes, and assisted living / memory care facilities. PDD zoning in Waterford allows the potential for a multi-family development in this zone, as advocated by the town, which would be accessed through the adjacent Beechwood Estates housing complex. Housing demand in the area is strong given the expansion of Electric Boat to the Crystal Mall property across I-95 where several hundred new employees are anticipated. Located about half way between Boston and New York City, the property is within 20 miles of Mohegan Sun, Mystic Aquarium, and the Groton - New London Airport, with over 100,000 people in a 20-mile radius.