Executive Summary: Overview The Westville Gateway is a fully approved project located at 781 Whalley Avenue and 50 Fitch Street in the Westville/West Rock neighborhood of New Haven, Connecticut. This premier development represents a rare and lucrative opportunity for developers and investors. Offered at $10.5 million, the sale includes 3.62 acres of land, with complete site plan and coastal site plan approvals, for a 357,312-square-foot mixed-use building featuring 245 residential units and commercial retail space. Positioned along the Westville/West Rock New Haven Line and nestled beside the picturesque West River, this development offers the perfect blend of natural beauty and modern luxury. The Westville Gateway is designed to capitalize on New Haven's thriving real estate market, supported by strong economic anchors such as Yale University, Yale New Haven Hospital, and a flourishing life sciences sector. Development Project Highlights: Residential Units: 245 total units, including a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments, as well as spacious 3-bedroom townhouses. Retail and Parking: 2,300 square feet of retail space, 219 parking spaces (including a garage), and 74 bicycle spaces. Amenities and Outdoor features: 25,000 square feet of indoor and outdoor amenities, including: Pool, Fire pits, Rooftop deck, Private terraces for select units, Gym, Tenant lounge, Pet spa and Cinema. Public Amenities: Includes an accessible Riverwalk Trail along Wintergreen Brook and the West River. Affordable Housing: 5% of units designated as affordable housing under New Haven’s inclusionary zoning ordinance, providing housing to those earning no more than 50% of the area median income. Approvals in Place: Site Plan and Coastal Site Plan Review approved by the City Plan Commission. Wetlands review completed with a "No Significant Impact" classification. Approvals valid through July 20, 2027, with potential for extension. Value-Add Potential: Tax Abatement Incentives of up to 7 years could be negotiated under New Haven’s updated tax assessment deferment program, which supports mixed-income developments with affordable housing components. Grant Opportunities may also be available. This is a premier development opportunity with significant upside potential. By acquiring the fully approved site, buyers can fast-track construction and capitalize on a growing market with high rental demand, strong financial metrics, and favorable local incentives. Development Financing Options and Experienced Project Development and Management Options are also available.