Springside Middletown, an upcoming 414-unit apartment complex in Middletown, Connecticut, will make history for reasons other than its size.
The project is under construction, attracting unprecedented participation from a variety of community groups, leading developer PB Development to set aside $1 million for minority contractors to bid for work on the project, resulting in tax breaks, CTInsider report.
In addition, the developer is promising $100,000 in gift cards from local stores to be given to future residents of the complex as a way for them to acclimate and become familiar with the city.
Project liaison Allen Marshall told the media that the project could generate as much as $1.5 billion in revenue for the city where Wesleyan is located.
The 48-acre site was built in two phases at a cost of $100 million and a little over two years, According to the Hartford News.
The complex will have one, two and three-bedroom units, as well as three levels of garden-style apartments, Courant said. It was not specified how much the rent would be.
Amenities at the complex will include a common room and coffee bar, a recreation building with a fitness center and climbing wall, and a golf simulator. According to CTInsider, the complex will also feature a swimming pool, outdoor kitchen, pickle ball court, dog park and playground.
The first phase of the project will provide 240 units in three buildings, with the remaining 174 units being part of the second phase. The average rent for a one-bedroom apartment in Middletown is approximately $1,200 per month; $1,500 for a two-bedroom apartment; $1,825 for a three-bedroom apartment, According to rentdata.org.
The project will bring some much-needed housing, albeit market-rate, to central Connecticut.
The state is currently trying to find a solution to its affordable housing problem, even as apartment construction over the past two years has hit its highest level in the state in more than 100 years, according to the Hartford News.
“People want to live in Connecticut, but you need all kinds of different types of housing. If you want to make the state more affordable, start with housing,” Gov. Ned Lamont said at a news conference, The Hartford Courant reported..
Lamont’s proposed budget includes spending $600 million over two years on housing construction, including building more homes.
“We’ve spent $600 million on housing over the next two years,” Lamont said, according to the Mirror. “It’s not just affordable housing, which I call workforce housing — those are ours. Studio and one bedroom – usually in urban areas, hopefully close to major transport areas.”
Democratic lawmakers in Connecticut proposed a multifaceted approach in February to address the state’s housing shortage, including converting empty malls and big box stores into housing, Reported by CT Insider.
State senators who supported the proposal said building new affordable housing was critical to the state’s 100,000-employee workforce, the outlet reported.
“We’ve got to get workers in first, and employers in second,” said Senate Majority Leader Bob Duff.
— Ted Glazer
