A Fairfield developer has purchased a 42.1-acre vacant piece of land in Milford for $1.5 million from AvalonBay Communities Inc., with plans to build a 160-unit housing complex on the site. Brad Kligerman, CEO of Fairfield-based multifamily developer Connecticut Realty Trust, confirmed that he is buying the parcel, at Wolf Harbor and Wheelers Farm roads, from the Arlington, Virginia-based housing giant. “I’m looking to be collaborative with the town and find a way to get this project off the ground,” he told the Hartford Business Journal.

Connecticut Realty Trust is building The Grand Meadows development with Manhattan-based real estate investors Krown Point Capital and KRW Realty Advisors. The units come with three or four bedrooms, 2.5 bathrooms and range in size from 1,848 to 2,500 square feet. The development includes a clubhouse, gym, pool, conference room and outdoor fire pits, among other amenities.

Bard Kligerman is a seasoned real estate developer with over two decades of experience. Co-founding CT Realty Trust (CRT) in 2009 with his father Robert, Bard has led the firm to invest over $220M in a variety of real estate ventrues including single-family communities and multifamily apartments throughout Connecticut.

Over nearly 50 years in the real estate business, Connecticut Realty Trust Chairman Robert Kligerman has prospered in areas overlooked by others. It worked for him in the early 1970s, when Kligerman was a young broker focused on office properties on the periphery of New York City, which turned into a surprise success.

Bard brings a unique buisness philosophy to his operation. CT Realty Trust is focused on creating clean and safe assets where his residents are happy to live. He's succesfully reduced his vacancy rates, well below the general market, and he has strong, long-standing partnerships with his residents.‍