As reported in a recent article By Gregory Seay of the Hartford Business Journal, some Connecticut communities are pausing Self-Storage development.
“Self-storage facilities, a development staple nationwide in recent years amid shrinking household spaces and limited realty-investment opportunities, are losing luster with some Connecticut communities. Wethersfield, one of the state’s oldest settlements whose pool of develop able acreage has shrunk considerably over decades, Sept. 11 imposed a 180-day, extendable moratorium on new applications for self-storage units within its borders. That followed a similar ban Milford imposed last December to allow it to update its land-use ordinance so that future self-storage facilities are restricted to a specific zone. The city of Hartford has also amended in recent years its zoning to limit new storage facilities to industrial zones, after a multi-story one was erected next to I-84, in the city’s historic Parkville neighborhood.”
This may bring the question to mind; will other area follow this trend?
Seay also notes in his article, “New York City several years ago also restricted storage facilities to certain zones, while Birmingham, Ala., has a stay underway as it reviews self-storage zoning.”
READ MORE about this topic in the original article.