Springside Middletown, the upcoming 414-unit apartment complex in Middletown, Connecticut, is set to make history for reasons beyond its size.
The project, which is in construction, has drawn unprecedented involvement of various community groups, leading to a tax abatement where developer PB Development set aside $1 million for minority contractors to bid on project work, CTInsider reported.
In addition, the developers promised to buy $100,000 in gift cards from local stores to give to the complex’s future residents as a way for them to become acclimated and acquainted with the city.
The project could generate up to $1.5 billion for the city, which is home to Wesleyan University, project liaison Alan Marshall told the outlet.
Construction, which is taking place in two phases, on the 48-acre parcel will cost $100 million and take a little over two years, according to The Hartford Courant.
The complex will have one-, two-, and three-bedroom units along with three-story garden-style apartments, the Courant said. How much rents will be was not specified.
The complex’s amenities will include a common room and coffee bar, recreation building with a fitness center and climbing wall and golf simulator. The complex will also have a pool, outdoor kitchen, pickleball courts, dog park and playground, according to CTInsider.
Phase One of the project will have 240 units in three buildings, with the remaining 174 units being part of Phase 2. The average rent for a one-bedroom apartment in Middletown is about $1,200 a month; $1,500 for a two-bedroom apartment; and $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 attempting to find solutions to tackling the affordable housing issue has been a challenge, even though apartment construction in the past two years has been at its highest in the state in over 100 years, The Hartford Courant reported.
“People want to be in Connecticut, but you need a whole variety of different types of housing. If you want to make the state more affordable, it starts with housing,” Gov. Ned Lamont said at a press conference, according to the Hartford Courant.
Lamont’s proposed budget includes spending $600 million on housing, including building more housing, over the course of two years.
“We’ve put $600 million over the next two years into housing,” Lamont said, according to the Mirror. “And that’s not just affordable housing, and what I call workforce housing — those are our studios and one bedrooms — often in downtown areas, hopefully next to major transit areas.”
Connecticut Democratic lawmakers in February proposed a multifaceted approach to tackle the housing shortage in the state, including converting empty strip malls and big box stores into housing, CT Insider reported.
The state senators who back the proposal said creating new, affordable housing is critical for the 100,000 employees the state needs, the outlet reported.
“We have to have the employees first, and then the employers come in,” Senate Majority Leader Bob Duff said.
— Ted Glanzer