The historic Sherwood Tool Factory was redeveloped into 71 market-rate loft-style condominiums. It’s located adjacent to the Mattabessett River and Paper Goods Pond. This factory served as the town’s major employer for decades before becoming vacant. In June 2013 CIL completed the factory renovation. Upon completion and sale of the factory units, fourteen townhouses will be constructed on vacant land across Main Street to provide a complete redevelopment of the site Sherwood site. This project was made possible by a $1.1 Million Tax Increment Financing grant from the Town of Berlin and a $2.7 Million State Historic Tax Credit investment from CL&P.