Colonial Plaza Purchased by Waterbury-Based Family Business

September 16, 2022

More good economic news for the 73rd District!

It's great to see that a Waterbury-based family business recently acquired Colonial Plaza on Thomaston Avenue and wants to turn into a retail and commercial hub.

I am proud to champion and support the investment in Waterbury by Cornerstone Realty and the Albert Family, who purchased 224,810 square feet of commercial buildings on 16 acres.

Thomaston Avenue is a great location, close to ramps for Interstate 84 and Route 8, and this is another in a series of recent investments in economic development that is boosted by the business-friendly track record of Waterbury Mayor Neil O’Leary.

Colonial Plaza was a vibrant draw for people of all ages in the 1960s and 1970s.

Today, the property holds a Wendy’s, Taco Bell, supermarket, Dunkin’ Donuts, Ami’s Bagels, laundromat and a uniforms company among others but it is still only about 30% full.

It is exciting that a local family business known for quality work and a genuine dedication to Waterbury is making this investment that coincides with millions of dollars of investment the city has and continues to place in the revival of the nearby Freight Street industrial corridor.