Summit Development Acquires Mixed-Use Development Site in Connecticut for $17M

DANBURY, CONN. — Summit Development has acquired a 1.2 million-square-foot mixed-use development site in Danbury for $17 million. The property is the former headquarters of Union Carbide. Summit Development plans to renovate the building and convert it into an office, retail and residential complex to be rebranded The Ridge at Danbury. When completed, the 100-acre property will include 700,000 square feet of office space, 400,000 square feet of residential apartments, 100,000 square feet of event space and 100,000 square feet of core services and amenities.