The Oaks at Grand West
10415 Lancaster Frst Ln, Houston, TX, 77051, US
147 units
Description
Jones Lang LaSalle ("JLL") has been exclusively retained to offer qualified investors the opportunity to acquire Blueway Commons (the "Property"), an 88-unit, 89% market-rate asset strategically positioned in Haddam, Connecticut. Completed in two phases between 2023 and 2025, this newly constructed Class A multifamily development has already stabilized to 99% leased, demonstrating strong market acceptance. The Property features spacious one- and two-bedroom apartments across two-story buildings with premium finishes including granite countertops, stainless steel appliances, luxury bathrooms, and private patios/balconies.
The initial lease-up was executed at conservative market rents to drive rapid absorption, creating immediate upside opportunity for an incoming investor to optimize rental rates to current market levels. The Property's Class A construction quality, premium amenity package including clubhouse, fitness center, and extensive outdoor spaces, and lack of comparable new supply in the submarket position it to command rent premiums over existing competition.
The Property benefits from Haddam's prime location along Route 9 with direct connectivity to Interstates 91 and 95, providing easy access to Hartford (30 miles) and New Haven (25 miles). Haddam's affluent demographic base features average household income of $159,000, proximity to major employers including Wesleyan University, Pratt & Whitney, and Yale University, plus an excellent public school system. Blueway Commons' newly constructed quality and rapid stabilization positions it as an exceptional investment opportunity in Connecticut's dynamic multifamily market.
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Attributes
Units
88
Occupancy
99%
Year built
2023 / 2025
Media
Investment highlights
Newly Constructed, Market-Leading Asset
· Delivered in two phases (2023 & 2025), Blueway Commons is a best-in-class, stabilized multifamily with 99% occupancy.
· High-quality construction and finishes, setting a new standard in the local market.
Immediate Rent Upside and Further Value Creation
· Initial lease-up at conservative rents allows immediate opportunity for a new owner to increase rates to current market.
· Significant further upside as workforce housing units will revert to full market rate upon expiration of the current CHFA regulatory agreement, following burn-off of the affordable loan. This transition allows direct rent increases on these units, substantially boosting property cash flow and value.
Premium Design and Amenities
· Spacious one- and two-bedroom units in private, two-story buildings.
· Modern luxury finishes (granite counters, stainless appliances, spa-like baths, patios/balconies).
· Comprehensive amenity package: clubhouse, business center, 24-hour fitness, landscaped grounds, communal lounge spaces.
Affluent Demographics and Strong Employment Base
· Average household income in Haddam exceeds $159,000 and is projected to rise 8.9% by 2030.
· Proximity to major employers including Yale University, Pratt & Whitney, and Wesleyan University.
Strategic Central Connecticut Location
· Direct access to Route 9, I-91, and I-95.
· Approximately 30 minutes to Hartford, 25 minutes to New Haven, offering unmatched connectivity to job and lifestyle hubs.
Strong Market Fundamentals, Restricted New Supply
· Greater Hartford submarket experienced 24% rent growth and 95%+ occupancy over the past five years.
· No new comparable multifamily supply in the immediate submarket underpins future rent and occupancy strength.
Contact brokers
Blueway Commons (0 Properties)
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Last updated
Oct 21, 2025
