R. David Genovese founded Baywater Properties in 2001, following a 12-year career in real estate investment banking in New York and London. Prior to founding Baywater, David served as Co-Head of Real Estate Investment Banking for Credit Suisse First Boston. Previously, David served as a Managing Director in Bankers Trust Company’s Real Estate Investment Banking Group. Through the course of his career in investment banking, David was responsible for a variety of transactions valued in excess of $15.0 billion, including mergers and acquisitions, equity offerings, bond offerings, securitized financings, bank loans, and principal investments. David is an honors graduate of Colby College and The London School of Economics and Political Science. David also received an MBA from The Wharton School of The University of Pennsylvania. David is currently a member of the Board of Directors of The Human Services Council of Norwalk, the Darien Athletic Foundation and The Real Estate Finance Association of Connecticut. David has served as a member of the Board of Overseers of Colby College, and as a board member of the Darien Technology and Community Foundation, the Darien YMCA, the Darien Historical Society, and Darien Revitalization, Inc. In 2007, David was named as one of the “40 under 40” business leaders in Fairfield County, Connecticut.
Spotlight on Main Bethel
Spotlight on Main
BETHEL
Spotlight on Main
September 10th, 2026 we hosted Spotlight on Main in Bethel, CT. This event included a presentation from Economic Development Director, Janet Chrzescijanek, a guided walking tour through downtown, and a local reception. As always, our Spotlight focused on highlighting best practices in downtown management.
10 Years of Intentional Economic Development
- Bethel has 21,682 residents and has grown 6.4% since 2020. It’s located 56 miles from NYC and 46 miles from Hartford, with direct Metro-North rail access.
- The town boasts competitive lease rates, low crime, a skilled workforce and an unsaturated business environment.
- In 2013 the Town hired its first Economic Development Director, Janice Chrzescijanek, to focus on 4 key regions within the town:
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- Downtown Bethel
- Clarke Business Park
- Route 6/Stony Hill
- Metro-North/TOD
Key Strategies & Initiatives
Building Momentum on Main Street
Understand the Community’s Needs & Build Relationships
Bethel created advisory committees, conducted surveys with business & property owners, and performed needs assessments for the four regions. The Economic Development Director also cultivated relationships with state, regional and local partners.
Engage In & Utilize Strategic Plans
Bethel completed a Comprehensive Economic Development Strategy (CEDS) that they continue to refer to to guide their development. They also approved the Bethel Forward Master Plan which outlines improvements for downtown Bethel. These plans outline priority areas and the type of growth that would best suit each area.
Implement Goals & Measure Impact
Bethel took action on its strategic plans, adopting new policies and regulations to support their desired growth.
- Adopted Transit-Oriented Development (TOD) regulations to guide smart growth near the rail and transportation.
- Secured grants for sidewalks, streetscapes, wayfinding signage, and accessibility improvements.
- Continued adaptive reuse projects and targeted infrastructure improvements.
- Strengthened support programs for existing employers and entrepreneurs.
- Developed Bethel’s first Comprehensive Marketing Strategy to promote businesses, arts, culture, and investment opportunities to regional audiences.
View Tour Highlights on our Storymap:
Keys to Success
3 Things Instrumental to Bethel’s Success
- Started with the arts, using it to beautify and promote vacant properties until they could be rented out. They’re now at 90% occupancy.
- Bring different community stakeholders together, with economic development at the center of their planning and initiatives.
- Allow growth to be organic and locally driven. By adapting older buildings to new uses, Bethel is attracting property owners who want to expand, and developers and busines owners looking for new opportunities.
Bethel+ CMSC Assessment = IMPACT
How Bethel utilizes CMSC’s resources to guide their actions and initiatives
- Bethel applied for and participated in the 2025 Main Street Accelerator program.
- During Accelerator, the Bethel team created the Experience Downtown Bethel website to cultivate experiences that boost tourism, increase foot traffic, and enhance local commerce. The team also developed a process for business owners to support each other on future projects.
Tips to Take Home
How you can apply Bethel’s best practices to your Downtown
Janice Chrzescijanek, Bethel’s Economic Development Director, recommends other downtowns facing similar issues start by doing the following:
- Build relationships with local partners. If you don’t already have a group formed, create one. Make sure your purpose is clear, and you create an incremental set of achievable actions.
- Invest in an economic developer or EDC – whether full time of volunteer, who can begin implementing your town’s strategic vision.
- Outline clear goals, using your POCD or CEDS, that can serve as a touchstone for future development and inititatives.
CMSC’s Main Street Management Assessment
CMSC’s annual Main Street Management Assessment provides our members with a way to measure their efforts, track successes year-over-year, and provides specific resources and guidance to achieve their goals.
The 80+ data points align with the adaptable and nationally-proven Four Point Approach: Economic Vitality, Design, Promotion, and Organization.
The Assessment in Action
Bethel’s Assessment shows how they’re exemplifying excellence in the 4 points.
Economic Vitality
Bethel has strong relationships with their merchants and businesses, including providing access to a “one-stop-shop” resource with info and district updates.
Design
Bethel consistently maintains its green spaces, while public art is evident throughout the district, particularly at the Town Hall.
Promotion
Bethel maintains a full calendar of events with good communications and community support; inspired by CMSC’s Accelerator program, they’re amplifying these efforts.
Organization
Bethel’s POCD provides strategic direction for the EDC with a clear focus on the main street district.
View Pictures from this event
Courtesy of Irish Flare Photography























































































CEDAS, the Connecticut Economic Development Association, is a not-for-profit



Strong small businesses need strong main streets. Small businesses are the backbone of Connecticut’s economy and critically important to the downtowns and main streets that give life to our communities, providing the goods and services we rely on, creating jobs, and building the unique places we love to explore.




























































































Rista was recognized with the Quentin Williams Downtown Hero Award for her outstanding contributions to community vibrancy through her longstanding efforts to revitalize downtowns in the state’s Northwest corner, including working in partnership with Winsted stakeholders on traffic calming measures; her impactful work as


















































Jasko Development
that provides client-specific, forward-thinking, and holistic solutions. Since 1924, we have made it our mission to improve the built and natural environments in response to our public and private clients’ evolving needs.


















































































Grounded in Fairfield University’s Jesuit, Catholic mission to share its intellectual resources for the betterment of the community and to educate students to be socially and morally responsible, the Center for Social Impact connects community and campus to create high impact academic opportunities that address local, national, and global challenges and develop individuals committed to creating a more just and equitable world.



