Even though news of a slowing residential market continues, there is still plenty of growth in the commercial and retail sectors. Two of the biggest casinos in the World are found in Eastern Connecticut. The area has experienced a rapid increase in population and economic growth due to the continued expansion of casinos and nearby businesses. From Norwich North, Route 32 to Route 395 are major developments that have been or are under construction. This area has many potential development sites and opportunities that could allow for strong future growth online casino.
Casinos contiue to Expand
There is an expansion taking place in the vicinity of the casinos. Both casinos announced and began major expansion plans. These plans will see them more than double their gaming areas, expand their hotel and entertainment facilities, and increase their overall size. Foxwoods Resort casino is currently building an additional 826 rooms, a 50,000-square foot ball room and 4000 seat performing center. The Mohegan Sun has announced plans for an additional 1,000 hotel bedrooms and 115,000 square footage of retail and restaurant spaces. The area is home to approximately 25,000,000 people annually.
Utopia still alive and well
Utopia Studios is still possible, as per this writing. This is planned for the 400-acre former Norwich Hospital site across the river to the Mohegan sun Casino. The $1.6 Billion project includes a entertainment center, movie studio, and theme park. This project could create an estimated 22,000 jobs and attract an additional 10 million people annually. Even if Utopia’s deals fail, major developers may still be interested in this property that will support the growth of the Norwich market.
Liberty Crossings is a 800,000 square foot retail center located near Stonington. Lowes Homes Improvement and Target are the anchors of this mall, which also features a 330,000 square foot pedestrian village. Construction is underway at the Byron Brook Country club, a $200-million golf community. The Pequots Tribe Lake of Isle course golf course has already opened.
Northeastern Connecticut, unlike other parts of Connecticut, still has large parcels within close proximity of major commuter routes. The towns have been open to both residential and commercial development, which has attracted developers. Residents have moved to Connecticut from far more expensive places, including Connecticut’s metro areas. It is easy to get to Route 84 and 395 in Eastern Connecticut. The result? Affordable rural living that can be easily commutable to work. You are less than 45 minutes from Worcester and Providence, and just two hours from New York and Boston. Rail is well connected to the area, making it a great place for companies looking for efficient distribution systems.
North on Route 32
Route 32 connects East Connecticut’s North to South from New London, across the Massachusettes to New London. Mohegan Sun to Norwich, then Franklin Route 32 takes you to Windham and Willimantic. This route is used by local employees as a commuter route and as a tourist route linking the casinos and Western Massachusettes. Franklin, just across the border in Norwich, has large parcels commercial land along Route 32. This area is an important spot for futute growth, with an average daily vehicle count of around 20,000 cars. Windham and Willimantic are experiencing great growth thanks to the revival of Main Street, and Eastern Connecticut State University. Windham, which is located on Route 6, has a retail market that houses national retailers such as Sears and Walmart.
North on Route 395
The casinos and Route 395 are attracting national businesses. This is helping to expand residential markets. Lisbon Landing is a highly successful retail centre. Plainfield and Sterling are both ready for the next boom. Ceruzzi Holdings (developer of Crossing at Killingly Commons) has bought the Plainfield Dog Track. Another development on Route 395 is the new Tractor Supply-anchored retail center and River Front Commons project.
Many renters and homeowners have been driven north by the continuing shortage of affordable housing close to casinos. The area boasts large tracts and towns that support development. Northeastern Connecticut will benefit from the continued growth and development of Eastern Connecticut.