A backhoe demolishes a structure in the South End of Waterbury today as part of the Loyola Development Corporation’s revitalization plan. Photograph by John Murray
As part of its on-going transformation of the South End of Waterbury, the Loyola Development Corporation demolished a 102 year-old house on Monday, located at 629 South Main Street. This is Loyola’s first construction project. Loyola’s mission is to revitalize of the South End Neighborhood, a seven block area that runs from East Clay to Mill Street and South Main to Mill Street with adjacent blocks from Benedict to South Main and Liberty to Jewelry Streets.
The project will consist of two buildings containing ten 2-bedroom apartments; twenty four 3-bedroom apartments; and four 4-bedroom apartments, plus one commercial space suited for Loyola offices. All residential units will be developed for purposes of affordable housing. The project will consist of two buildings containing fifteen 2-bedroom and eighteen 3-bedroom units, plus community space and management offices.
Loyola negotiated an agreement with the City of Waterbury to acquire the tax liens on four adjoining, abandoned parcels of property, totaling .67 acres (29,185 sq.ft), on South Main and East Liberty Streets. In exchange for the tax liens, Loyola Development agreed to pursue foreclosure action on the properties, and if successful, develop the properties for purposes of affordable housing. Loyola successfully acquired the properties through strict foreclosure in January, 2012. The tax lien disposition strategy has since become a model initiative used by the City of Waterbury as part of Mayor O’Leary’s Anti-Blight campaign.