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Torrington selects Penrose-Cloud team as preferred developer for former Nidec/Hundred Franklin Drive brownfield; plan includes about 120 apartments and greenway
Summary
The City Council on Oct. 20 designated Penrose in partnership with Cloud Company as the preferred developer for the Hundred Franklin Drive brownfield site and authorized the mayor to negotiate purchase and remediation agreements to support a remediation grant application and redevelopment.
The City Council on Oct. 20 received presentations on redevelopment concepts for the Hundred Franklin Drive (formerly Nidec) brownfield site and approved naming the Penrose—Cloud Company partnership as the preferred developer, authorizing the mayor to negotiate purchase/sales and related documents.
Why this matters
The site has been vacant and environmentally challenging for roughly two decades. City staff said a clear pathway to ownership and a preferred developer are necessary ingredients for a successful brownfield remediation grant application; the city and its Brownfield Land Bank have been preparing to apply for remediation funding in a spring 2026 funding round.
Proposal highlights
City documents and the developer team described a plan of two buildings similar in scale to the Riverfront project, roughly 120 apartment units, significant on-site parking and first-floor commercial space. The team said…
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