A Massachusetts developer, proposing to build two warehouses and two manufacturing centers, purchased from Pratt & Whitney 300 acres of land in East Hartford for $78.5 million, the Hartford Business Journal reported.
The plans call for warehouses of up to a combined 2.5 million square feet, and two research and development buildings.
National Development is expected to build out its Rentschler Field plan throughout this year, East Hartford Mayor Michael Walsh told the outlet. The company also agreed to pay a one-time $4 million payment directly to the town, the HBJ reported.
Walsh, according to the HBJ, said he expects $4 million in permitting and inspections fees to be paid to the town for the entire project.
The project, which is near interstates 84 and 91, will eventually generate about $4.5 million in tax revenue, and create about 2,000 jobs, the Hartford Courant reported, citing company officials.
National Development has not announced any tenants for the project.
— Ted Glanzer