A 156,000 square automobile part factory in Wooster Square is going up for sale.
Binswanger of Massachusetts, Inc. put out the memorandum on behalf of owner C. Cowles and Co.-operating there for 160 years-a couple of weeks ago, but before prospective buyers start submitting offers, New Haven residents will have a chance to get a look at five-story property.
C. Cowles and Co. is hosting a tour of the factory this Saturday at 10:30 a.m.
“This should be an outstanding opportunity to see the factory and, in particular, to understand the space before we, as a neighborhood, begin the conversation with any developer about their plans to use or convert it,” said Alderman Aaron Greenberg in an email announcing the property’s going up for sale and the tour. “I have toured the facility and can say that the views of downtown, East Rock, Wooster Square, and other parts of the city are magnificent, especially from the top floors.”
Those driving by on I-91 and I-95 have a good view of the property, which is located at 83 Water Street-about 1 mile from the two major highways, according to the memorandum. The 2.84 acre property actually contains two structures-the factory on Water Street and a building on an adjoining parcel.
Built in 1898, the factory saw expansion projects in 1914, 1966, and in 1993. Today, it has three loading docks at its north end, as well as 100 outdoor parking spaces and potential for the addition of indoor parking, according to the memorandum.
The first floor of the building has been used mostly for office space and conference rooms.
The C. Cowles and Co. factory is valued at over $1.7 million, with $72,636 going onto the tax rolls.
There are numerous possibilities for the future of the property, which resides in a mixed use area, Greenberg said over the phone.
“You can imagine residency, a nonprofit, museums, a school,” Greenberg said. “I think this offers an opportunity for all different kinds of use.”
This Saturday’s tour meets in the parking lot near the Chestnut Street entrance.