COURT DECISION CLEARS FINAL HURDLE FOR AFFORDABLE HOUSING PROJECT



Norwalk, CT -- (September 9, 2009) -- On Sept. 2nd the Connecticut Appellate Court declined to review a Norwalk Zoning Commission approval and a subsequent Superior Court affirmation of that approval, and thereby ended a 5-year struggle to stop affordable housing from coming to Norwalk.

A 56-unit workforce housing community was originally proposed for the 80 Fair Street location by the Human Services Council of Mid-Fairfield County in 2004. Carl and Mark Bildner, father and son, owners of Norwalk Self Storage at 25 New Canaan Avenue, immediately challenged the Norwalk Zoning Commission approval. The Bildners' lengthy and expensive appeal of that approval prevented the Human Services Council from developing the property, and ultimately forced it to convey the project to the Norwalk Redevelopment Agency, one of its mortgage holders.

At that point, Norwalk-based developer Building and Land Technology came forward and made the housing project their mission. BLT proceeded to obtain Zoning Commission approval of a 59-unit project, and once again the Bildners appealed that decision to the Superior Court in Stamford. BLT commenced construction of the project at its own risk without the availability of conventional financing while the appeal was pending. On May 13, 2009, Judge William Mottolese ruled that the Zoning Commission acted properly and denied the Bildner's appeal.

Yet again, the Bildners sought to thwart the project by asking the Appellate Court to review the Superior Court decision. With its denial of certification, the long appeal process is finally over.

Upon hearing the court's decision, Building and Land Technology President and CEO, Carl R. Kuehner, III said he was pleased the Appellate Court panel saw no basis for the appeal. In addition, continued Kuehner, "We all know the critical need for affordable housing in lower Fairfield County and these apartments are an important step in the right direction. They'll help the City maintain its vital diversity and provide housing for an important segment of our local work force".

Today, BLT stands ready to finish construction and begin the rental program of the 59-unit apartment complex, which was approved with 10%, or 6, affordable units. They have been holding off completion for the past year, however, while working closely with CHFA/DECD and a local non-profit agency to try and secure funding that would allow the entire building to be affordable. In addition to the apartments, BLT constructed a self-storage facility adjacent to Route 7 on the site and is donating all profits from that enterprise to local area charities.

Norwalk Mayor Richard A. Moccia said, "Workforce housing is essential to Norwalk's economic health and overall sustainability. This significant project will provide new affordable housing opportunities to many professionals that work within our City but cannot afford to reside within it. The fact that this important project was resurrected by Building and Land Technology is a testament to the high quality and community minded developers who are attracted to Norwalk. Their efforts continue to reshape and redefine our community for the better."

No strangers to philanthropy, the principals of Building and Land Technology are past honorees of the March of Dimes of Fairfield County's annual Real Estate Award. Both Carl R. Kuehner, III, and Paul J. Kuehner, the company's Chief Financial Officer, have long supported local charities like the Norwalk Emergency Shelter as well as Hope for Haiti, a Kuehner family-run not-for-profit that has assisted over 3 million Haitians since its inception 20 years ago.

About BLT
A second-generation real estate development company, Connecticut-based Building and Land Technology (www.BLToffice.com) has completed ventures worth more than $3 billion including over 4 million square feet of commercial development and 4,500+ residential units. BLT trophy properties host the headquarters for Gen Re, GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy Financial Services, IMS Health and Hewitt. Their numerous office parks, apartment complexes, single family subdivisions, common interest communities and adaptive reuse projects total in excess of 8,000,000 square feet of development throughout Fairfield County. For additional information please contact Lisa Randazzo, 203.846.1900 x 1510, lisa@BLToffice.com.