Pepsi And Others Are Interested In Newtown Real Estate

By Steve Bigham

Newtown has begun to attract the attention of large corporations looking for new homes in the countryside. Several large companies, including the Pepsi Bottling Company, have inquired about Newtown in recent months, according to Community Development Director Elizabeth Stocker.

“Since the middle of the summer, we’ve had at least five inquiries for corporate headquarters here,” Mrs Stocker said this week.

Corporations are focusing their interest on a 100-acre site at the corner of routes 6 and 25, which is  one of the few remaining undeveloped pieces of land off any I-84 exit between Danbury and Hartford. Earlier this year, the Planning & Zoning (P&Z) Commission approved 11 changes of zone in Hawleyville, setting the stage for the economic development of the area.

“It’s refreshing to have all this interest as a result of the P&Z’s efforts to implement the Hawleyville plan,” said Mrs Stocker.

The Pepsi Bottling Company, which spun off from the Pepsi-Cola Company two years ago, reportedly wants to relocate somewhere in Westchester County or Connecticut. The company is currently located in Somers, New York. However, its current lease will expire in 2001.

Mrs Stocker said she met with a site-search consultant for Pepsi back in August, along with representatives from several other large companies. No final decisions have been made at this point, Mrs Stocker said, although she remains “optimistic” that the Pepsi deal will go through.

The 100-acre parcel in Hawleyville is owned by M. Newtown Associates Partnership of New York City.

The government of Newtown has made a big push to attract commercial development in recent years, hoping to strengthen and diversify the town’s property tax base by increasing the number of local commercial and industrial properties.

“I think many of the inquiries are the result of the marketing program that the Economic Development Commission [EDC] has in place. We are advertising on a national level to attract business development,” Mrs Stocker explained.

The town advertises in print publications and on the Internet. It also picks up referrals from its regional and state economic development partners.

Mrs Stocker says corporations often make general inquiries about Newtown. As community development director, she is responsible for keeping an inventory of all available commercial land in town and relays that information on to the corporation.

“I try to find property to accommodate a company’s needs and right now, Hawleyville can accommodate a large headquarters,” Mrs Stocker said.

The owners of the 100-acre parcel in Hawleyville had zoning approval to build a 600,000 square foot corporate park back in the late 1980s. However, an economic downturn terminated the project.

Several developers have also expressed interest in the Fairfield Hills property, which the town is expected to purchase sometime next year. In addition, town officials expect there to be interest in the 37-acre technology park off Commerce Road, which the state has offered to sell to the town for one dollar. The town is expected to accept the offer and turn the land into an industrial park.