NEW HAVEN, CT — Honeycomb Real Estate Partners and Vesta Corporation gathered with state and municipal leaders, funding partners, and community members in the West River neighborhood to celebrate the grand opening and official ribbon-cutting ceremony for The Monarch Apartment Homes, a brand-new, 64-unit fully affordable residential community located at 149 Derby Avenue.
The ribbon-cutting marks the completion of a transformative $30 million brownfield revitalization effort. What was once the abandoned New England Linen Company site, a former industrial cleaning facility dating back to 1900 and originally known as Monarch Cleaners, has been reimagined into a modern, sustainable apartment community.
Transforming History into Opportunity
The 1.77-acre site required environmental remediation, demolition of pre-existing industrial structures, and modern ground-up construction. Today, The Monarch stands as a model of successful brownfield redevelopment, replacing a long-blighted industrial parcel with high-quality, eco-friendly homes.
This major milestone was made possible through strong public-private collaboration and crucial financing from key state, municipal, and financial partners, including: Connecticut Housing Finance Authority (CHFA); Connecticut Department of Housing (DOH); Connecticut Department of Economic and Community Development (DECD); City of New Haven; and PNC Bank.
Construction and design for the project were led by general contractor Innoconn Construction Management, with architectural planning provided by Crosskey Architects.
Community Impact & Features
The Monarch offers 1-, 2-, and 3-bedroom floor plans designed to serve individuals and families across a range of income levels. All 64 apartment homes are reserved for residents earning between 50% and 80% of the Area Median Income (AMI).
Key highlights of the new community include:
Diverse Housing Options: Spacious 1-, 2-, and 3-bedroom layouts featuring contemporary finishes and energy-efficient appliances.
Prime Location: Conveniently situated along Derby Avenue in West River, providing residents with direct access to public transit, downtown New Haven, major employment hubs, and local parks.
Supporting Local Goals: The community directly advances New Haven’s city-wide initiative to expand quality, affordable housing options.
Fostering Community Growth
The ribbon-cutting ceremony featured remarks from municipal and community leaders, including New Haven Mayor Justin Elicker and New Haven Board of Alders President Tyisha Walker-Myers, who emphasized the vital role public-private partnerships play in addressing housing needs across Connecticut.
Honeycomb Real Estate Partners and Vesta Corporation remain committed to developing and managing vibrant, supportive communities that enhance local neighborhoods and provide long-term stability for residents.
For more coverage of the day, visit www.nbcconnecticut.com/news/local/former-industrial-cleaners-redeveloped-64-affordable-units-new-haven/3668236/.
Author: Jaime Larkin
Brand Coordinator for Vesta