Developer With Big Plans Purchases The Matrix in Danbury for $17 Million

The Matrix has a new owner which means you may be able to move your family in!

The Matrix Corporate Center, which originally was built to house the former Union Carbide headquarters in Danbury has been purchased by Summit Development in Southport for $17 million. The company will rename the Matrix "The Ridge at Danbury."

In its prime, the Matrix hosted major corporations like the Dow Chemical Company, Union Carbide, the Department of Defense, General Motors, Praxair, Chase Bank, and many others.

On December 20 2015, Glen Nelson, the owner of the Matrix died in a car accident on Long Island and that was when the Matrix Corporate Center began its rapid decline. One after another, major companies pulled out of the Matrix until only 13% of the office space was occupied.

Summit Development's plan for its new acquisition is to re-purpose the building by subdividing it into 700,000 square feet of office space, 400,000 square feet of residential apartments and 100,000 square feet of conference and event space. Summit's CEO, Felix Charney told the NewsTimes that work on the interior will begin "almost immediately."

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