Page 14 - BusinessWest December 8, 2021

Commons, he sees more potential for housing in that area.
On North Main Street, the Strand Theater has been closed for nearly 30 years and is slated for demolition by next summer. Next door sits the Angelo Lamanga Community Center. Tereso said the town has appropriated money for its demolition, too, but he is talking with develop- ers to see if it’s possible to find a new use for the 27,000-square-foot building.
“We are making five- and 10-year plans instead of just reacting to what’s happening now. Sure, there are challenges ahead of us, but we’ll take each one as they come and always try to do what’s right for the town of Enfield.”
“We want to sell the Lamanga Center to a developer who is forward-thinking and looking ahead at the train station our town will have in a few years,” he explained. “While not as large as Bigelow, these parcels represent an opportunity to build additional market-rate apartments, espe- cially for young professionals who are working in Hartford and Springfield.”
On the Home Front
According to Cressotti, demand for hous-
ing is certainly up Enfield. Since the pandemic began, nearly 2,200 prop- erty transfers have been recorded in Enfield. The rising real-estate market is leading to what he called the tough decision of re-evaluating houses and businesses in town.
“Residential property values have increased by 25% to 30% on average,” he said. “We’re going to adjust the mill rate to prevent a huge spike in the tax bills.”
With such large increases in home prices, getting families to locate to Enfield can be a challenge. Tereso talked about a first-time homebuyer program the town offers to increase purchasing power for eligible buy-
ers. The program provides a deferred loan up to $10,000 at a 0% interest rate for first-time buyers who purchase
a home in Enfield. For those who choose a home in the Thompsonville or North Thompsonville section of town, the loan is forgivable.
“This program provides the gap
funding that many folks need in order
to afford a mortgage,” he said, noting
that starter homes in Enfield typically
cost between $150,000 and $250,000.
“It has especially helped younger families to buy their first home.”
With families in mind, the town is currently transforming Higgins Park from a softball field into a multi-faceted park. Plans call for expanding Higgins, as the town plans to purchase the gym- nasium building that belonged to the former St.
Mayor Bob Cressotti says soaring real-estate activity may lead to the tough decision to re-evaluate Enfield homes and businesses.
Adalbert parish that abuts the park. Cressotti said the final layout will feature walking trails, a new basketball court, a swimming pool, a splash pad, and a band shell for outdoor concerts.
“When it’s complete, the park will have appeal to all ages, and we
will be able to hold sponsored events
Enfield
Continued on page 55
14 DECEMBER 8, 2021
COMMUNITY SPOTLIGHT
BusinessWest