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Herald Realty Sells Niche Asset in Connecticut


Herald Realty Sells Niche Asset in Connecticut
Herald Realty Sells Niche Asset in Connecticut
The deal includes approvals to add another 32 units as well as amenity and outdoor terrace space to the property.
May272021
Image courtesy of Institutional Property Investors
Institutional Property Advisors has brokered the sale of 100 Prospect Apartments, a 94-unit luxury community in Stamford, Conn. According to Yardi Matrix data, the previous owner was Herald Realty Management. The company paid $18.4 million for the asset in 2016.
Located at 100 Prospect St., the property originally served as an office building constructed between 1977 and 1981. Converted for residential use in 2008, the community was expanded with 12 new units added in 2018. The transaction included approvals for the addition of another 32 apartments and 7,100 square feet of amenity and outdoor terrace space.  ....

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Delaware Transit Corp. launches microtransit service for rural communities


DART Connect is a technology-powered transit pilot project designed to reduce barriers to transit access
April 15, 2021 / 2 minute read
Image: Delaware Transit Corp.
The Delaware Transit Corp. (DTC), in partnership with Via, launched DART Connect, the state s first on-demand microtransit service that will transform mobility in the rural communities of Georgetown and Millsboro in Sussex County, Delaware.
DART Connect is a pilot project funded under the Federal Transit Administration s Accelerating Innovative Mobility competitive grant program.
On-demand microtransit uses smaller vehicles to provide shared rides within 15 minutes of a ride request. DART Connect replaces the Flex Routes 901 and 902 which served fixed destinations throughout Georgetown and Millsboro on an hourly schedule. On the first day of launch, ridership on DART Connect surpassed the average daily ridership of the previous 901 and 902 Flex routes. ....

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