61 Deerwood Dr Killingly, CT 06239

This exceptional 84.5-acre land parcel in Killingly, Connecticut (APN 138-12, 61 Deerwood Dr, 06239), presents a unique opportunity to develop 51 fully approved 55+ senior housing units. The property is zoned L D and is part of the established Briarwood Falls community, boasting an existing 4,000 square foot clubhouse. Phases III & IV of this project are ready for immediate development, with all utilities in place and complete site plans available, including architectural drawings for 1,250, 1,450, and 1,600 square foot unit designs. The estimated cost for road and utility infrastructure is $1,795,000, resulting in an estimated cost per lot of $48,901. This development benefits from its convenient location, minutes from Killingly Center and Killingly Commons, and within a half-hour's drive of area casinos. The strong market demand is evidenced by the sale of the last two units in 2021 for $370,000 and $385,000, respectively. A total of 92 units have already been sold within the Briarwood Falls community between 2006 and 2018. This is an outstanding investment opportunity for developers seeking to capitalize on the growing demand for senior housing in a desirable location. The asking price for this prime development land is $699,000.