The Waterbury Times| Public Accountability |Published May 18, 2026
Waterbury- Developer John Mariolis continues to expand his growing Connecticut real estate portfolio, announcing new apartment conversion plans across the state even as several redevelopment projects in Waterbury remain ongoing.
Mariolis recently outlined an aggressive expansion strategy that now includes roughly 150 apartment units statewide, with another 100 units expected to be completed within the next six months.
Among the latest additions is a five-story, 137-year-old commercial building in Manchester purchased for $770,000 in December. Mariolis said construction on that conversion project is expected to begin within the next two months.
He is also reportedly negotiating the purchase of two additional apartment conversion properties — one in central Connecticut and another in the greater New London County area — that together could add another 93 units to his growing portfolio.
The expansion comes as Mariolis also pursues redevelopment activity in New Britain, where project timelines have drawn attention after claims that one conversion could be completed in as little as eight months.
Meanwhile, questions continue to circulate locally regarding the status and pace of several downtown Waterbury redevelopment efforts tied to Mariolis and affiliated entities. Critics and observers have increasingly questioned whether rapid acquisitions across multiple municipalities could impact the speed of ongoing projects already underway in the Brass City.
Supporters of the redevelopment efforts argue that large-scale developers commonly acquire multiple properties simultaneously while staggering financing, permitting, and construction schedules. Others say the true measure will be whether projects are completed on time and whether long-promised housing units materialize.
As Connecticut cities continue searching for housing growth and downtown revitalization, Mariolis’ expanding footprint is positioning him as one of the more closely watched emerging developers in the state.
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