FOSS & COMPANY CLOSES TAX EQUITY FINANCING FOR COLONY STREET REDEVELOPMENT
Transformational Mixed-Use Development to Deliver Affordable Housing and Commercial Vitality in Downtown Meriden
SAN FRANCISCO, CA – June 25, 2025 – Foss & Company, a leading tax equity syndicator, today announced the closing of a historic tax equity investment in the Colony Street Redevelopment project, a transformative mixed-use initiative in Meriden, CT.
Located in the heart of downtown Meriden, the project will revitalize five historic buildings adjacent to the city’s commuter train station. Once complete, the development will deliver 69 apartments—including 19 affordable units reserved for residents earning 60% to 80% of area median income—and approximately 9,436 square feet of commercial and retail space.
“We are proud to be part of a project that not only preserves Meriden’s historic character but also addresses critical housing and commercial needs in the community,” said John Sorel, acquisitions agent, Foss & Company. “The Colony Street Redevelopment is a strong example of how tax equity investments can drive meaningful, long-term impact.”
Backed by experienced developers, the project is designed as a transit-oriented development and aims to catalyze economic revitalization in the surrounding neighborhood. Total development costs are approximately $20 million, with completion expected by May 2026.
The project will provide approximately $3.07 million in federal historic tax credits and $3.19 million in Connecticut state historic tax credits—an exceptional outcome in a competitive investment environment.
ABOUT FOSS & COMPANY
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that has deployed over $9 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.
MEDIA CONTACT
Allison Lanser