RJ Development + Advisors LLC has been selected as the Preferred Developer of a 5.5 Acre development parcel located within the Fort Trumbull Municipal District by the City of New London and the Renaissance City Development Association, Inc. (‘’RCDA’’). All discretionary approvals including project zoning and site plan approvals are in place and a twenty (20) year property tax abatement has been authorized by the Council of the City of New London. The development site, located at the intersection of Howard and Hamilton Streets (the ‘’Property’’), is located two (2) blocks from the Thames River and directly across the street from the corporate headquarters of Electric Boat – a subsidiary of the National Defense Contractor, General Dynamics Corporation (ticker symbol GD). The Property is also adjacent to Fort Trumbull State Park and is located in a Federally Qualified Opportunity Zone and State of Connecticut Enterprise Zone.
Upon completion, the project, known as ‘The Beam’ www.livethebeam.com will include approximately 203 market-rate rental apartments, a generous suite of resident amenities, and on-site parking. The residential program will be situated in a five-story wood-framed building which will provide upper floors with views of the Thames River and Fort Trumbull Park. The massing, scale, and design have been developed deliberately to frame the corner of Hamilton and Howard streets — a gesture which will activate this corner, establishing the development’s main-entrance and ‘front door’. The design, developed by New Haven’s Svigals+Partners, will create a statement that will define this section of Fort Trumbull Park as it orients north towards downtown New London and East towards Fort Trumbull Park and the Thames River. RJDA commenced construction in 2021 and anticipates a 2022 grand opening. The total project costs for ‘The Beam’ are estimated at $50 Million Dollars.