WATERBURY — Bluewater Property Group will buy the 157 acre Waterbury/Naugatuck Industrial Park site for $2.5 million with plans to build an Amazon distribution facility there.
The proposed sale price was included in a purchase and sale agreement that will go before governing and land use boards in both municipalities for approval.
A representative from Bluewater will present an overview of the purchase and sale agreement with Waterbury aldermen at their next meeting Monday before it goes to the City Plan Commission then back to aldermen for a hearing, most likely on Monday, May 9, Waterbury Mayor Neil M. O’Leary said.
The deal is also under review by the Naugatuck Planning Commission. The borough’s Board of Mayor and Burgesses is expected to vote at a meeting next month to authorize Mayor N. Warren “Pete” Hess to sign the deal, Hess said.
Approval of the purchase and sale agreement will allow the much-anticipated project to move forward.
The state-of-the-art Amazon facility is expected to create more than 1,000 full-time jobs, plus hundreds of part-time positions as well as work for local residents and companies during construction.
Local leaders have said this site will likely resemble the size and scope of an Amazon plant in North Haven that generates about $5 million a year in taxes.
Municipal leaders said this is an exciting step in bringing the Amazon facility closer to fruition, yet many details of the deal still need to be negotiated, O’Leary said, including any potential tax incentives or entitlements, the size of the facility, and any needed site or access work.
When the project is ready to proceed to construction, Sen. Joan V. Hartley, D-15th District, the Senate chairwoman of the Commerce Committee, had said she and other Naugatuck Valley legislators will be ready to help out with any request for state support.
A $2.8 million bond authorization helped run utilities to the site, making it more attractive to potential developers.
It could be another two years until the Waterbury/Naugatuck facility is operational.
Hess said he’s looking forward to more details of the project emerging in the coming months, and that for Naugatuck, “I’m interested in a good project that will yield significant revenue.”
The Naugatuck Valley Regional Development Corporation is leading the project on behalf of both municipalities. Created a year ago by O’Leary and Hess, the group’s focus is on a regional approach to economic development in the valley.
Pennsylvania-based Bluewater partners work in industrial real estate throughout the Northeast, specializing in the acquisition, development, financing, and leasing of logistics properties.
Amazon.com is an Internet-based retailer that sells books, music, movies, housewares, electronics, toys, and many other goods, either directly or as the middleman between other retailers and Amazon.com’s customer base, which numbers in the billions. Founded in Washington state by Jeff Bezos in 1994, Amazon.com had a revenue of $386 billion in 2020.