An affordable housing developer in Connecticut has purchased a historic property on Delaware Avenue. Vesta Corporation purchased the Touraine Apartment building at 274 Delaware for $ 9 million. Touraine Apartments Associates Limited Partnership was the seller.
the old hotel in Touraine opened in 1902 and was designed by Esenwein & Johnson. A four-story annex opened in 1923 and the property was converted into 104 apartments in 1982.
Vesta Corporation was established in 1998 by Steve Erie and Arthur Greenblatt. It is a leading real estate company specializing in the acquisition, development and management of multi-family and affordable housing for seniors. Vesta has secured more than $ 1 billion in funding for the development of more than 20,000 apartment houses in 13 states and the District of Columbia.