231 Gungywamp Road, Groton CT — 13.41-Acre Multifamily Development Site

The Opportunity

A de-risked entitlement play with the heavy lifting started

This is not raw land. 231 Gungywamp Road comes with a signed municipal water & sewer agreement, a completed environmental condition report, existing surveys and as-built plans, architectural renderings, and concept plans for 150 to 300 multifamily units — all downloadable below, before you ever pick up the phone.

Concept plans in hand: a 150-unit sketch plan plus a pre-development study supporting 200–300 units.
Utilities solved: signed water & sewer agreement with points of demarcation documented (Schedule A in the data room).
Environmental report complete: Environmental Condition of Property report with full appendices — historicals, property records, and supporting documents.
Site documentation: signed 2017 survey, 1967 as-built set, 1975 grading/utility/foundation plans, and civil drawings.
~0.4 miles (~2,100 ft) of road frontage on Gungywamp Road — exceptional access, visibility, and site-planning flexibility for a project of this scale.
~35,000 SF of existing structures (A-frame chapel + community center) generating interim-use optionality — events, lease income, or staging during entitlement.
Proven developer interest: multiple Letters of Intent previously received from regional development firms (available upon request).

Aerial view with parcel boundary — 13.41 acres surrounded by established residential neighborhoods

Why Groton

Demand drivers within a 10-minute radius

New London County has a structural housing shortage, and Groton is at the center of it. Thousands of workers are being hired faster than housing is being built.

🚢

General Dynamics Electric Boat

The region's dominant employer is in a historic, multi-decade hiring expansion driven by the Columbia and Virginia-class submarine programs — thousands of new hires per year, all needing housing.

⚓

U.S. Navy Submarine Base New London

The Navy's primary East Coast submarine base sits minutes away, sustaining constant rotational housing demand from military families and contractors.

🧪

Pfizer Groton Campus

Pfizer's largest R&D site anchors a well-paid professional workforce in the immediate area.

🎓

UConn Avery Point

A waterfront university campus adds steady student and faculty rental demand.

⛵

Mystic & the I-95 Corridor

Minutes from Mystic Seaport and directly on the New York–Boston corridor, supporting both year-round and seasonal rental strength.

🏠

Structural Housing Shortage

New London County rental vacancy remains near historic lows while Electric Boat's expansion accelerates — new multifamily supply is the region's stated priority.

Location

Everything a renter needs, minutes from the front door

This is an established, fully-serviced corridor — not a remote land play. Daily retail, schools, employers, and I-95 are all within a 10-minute drive, and an elementary school sits directly across the street.

Across the street

Charles Barnum Elementary School — a National Blue Ribbon award-winning school, directly opposite the site on Gungywamp Road. A top amenity for family renters.

~3 minutes

Walmart (150 Gold Star Hwy)
Gold Star Highway (Route 184) retail corridor — pharmacies, dining, daily needs
Home Depot

~5 minutes

I-95 interchange — direct NY–Boston corridor access
U.S. Navy Submarine Base New London (Route 12 gate)
Stop & Shop supermarket

~10 minutes

General Dynamics Electric Boat shipyard
Pfizer Groton campus
Downtown Mystic & Mystic Seaport
Big Y supermarket & Groton Shopping Plaza
UConn Avery Point

0.4 mi of frontage

The site runs roughly 2,100 feet along Gungywamp Road — an unusually long, continuous frontage for a 13.41-acre parcel. That means multiple access-point options, strong project visibility, simpler phasing, and real flexibility in laying out 150–300 units without fighting the site.

Site Facts

231 Gungywamp Road, Groton, CT 06340

Lot Size	13.41 acres
Road Frontage	Approximately 0.4 miles (~2,100 ft) along Gungywamp Road — multiple potential access points
Existing Improvements	Approximately 35,000 SF — A-frame chapel and community center, with large on-site parking
Utilities	Public water & sewer — signed agreement with documented points of demarcation and meter locations (see data room)
Current Zoning	RU-20 (rural residential). Concept plans, pre-development work, and prior developer LOIs support a rezoning / entitlement path for multifamily use
Development Concept	150-unit sketch plan completed; pre-development study supports 200–300 units
Environmental	Environmental Condition of Property report completed, with full appendices available in the data room
Location	Elementary school directly across the street; Walmart and Route 184 retail ~3 min; I-95 and the Navy Submarine Base ~5 min; Electric Boat, Pfizer, UConn Avery Point, and downtown Mystic ~10 min
Pricing	$1,500,000 fee-simple — or $450,000 for a 50% equity partnership through entitlement

Deal Structures

Two ways to control the site

Fee-Simple Purchase

$1,500,000

Acquire the property outright and run your own entitlement process. All pre-development work — utility agreement, environmental report, surveys, concept plans, renderings — conveys with the sale.

Equity Partnership

$450,000 for 50% equity

Invest in the owning LLC and partner with us through multifamily entitlement. We pursue approvals together and exit the approved project at a significant premium — a lower-basis path to the same upside.