In a sign of tough economic times, downtown developer David Nyberg handed out a round of pink slips.
Nyberg — whose College Street LLC’s properties include the 900 Chapel St. apartments and offices, the Strouse-Adler complex, and the vacant Palace theater — said Thursday he decided to do some “belt-tightening” in response to rising costs.
“We laid off four people out of 18 or 19 [in the New Haven operation],” Nyberg said. “It’s a difficult time in the real estate business. Wherever we can create efficiencies, we’re doing it.”
The layoffs took place in the accounting department, the division dealing with evictions, and construction management.
“It’s a tough time,” Nyberg said. “The good news is our rentals are filled. Utilities have gone up almost 40 percent! It’s crazy. I’m fortunate because I have good partners. I’m well backed. It’s tighten the belt and get down to business.
“We’re still here. We’re operating. We’re not going anywhere.”
Nyberg’s company has been the target recently of preservationists upset about the lack of progress at three empty historic Crown Street buildings he bought and promised to rehabilitate into 110 new apartments.
Fearing “demolition by neglect,” 600 people signed a petition delivered to City Hall last week demanding action to save the buildings.
Nyberg said Friday he “absolutely” plans to get to work rehabilitating the buildings. Originally he’d promised to start by this past Monday. “I’m truly waiting to get the structural analysis back. We just want to be as safe as possible. Construction should begin imminently… Probably next week.”
He was less clear about the fate of the Palace theater. He’s looking for ideas about who might want to run the facility, and how.