Please do not leave this page until complete. This can take a few moments.
Tenants began moving into new apartments Thursday at the redeveloped former Montgomery Mill Complex in Windsor Locks, according to First Selectman Christopher Kervick.
The first 36 units of the $64 million apartment complex on Thursday received certificates of occupancy, allowing several residents to move into the property, which has been vacant for at least two decades.
Boston-based developer Beacon Communities LLC, which acquired the building in 2016, is currently renovating the three-building complex on Canal Bank Road to house 160 units total by October.
“It’s such a major change for us in terms of our entire downtown revitalization process,” Kervick said Friday. “We haven’t had any significant construction in our downtown area since the early 1980s, so this is big for us.”
The remaining apartments will debut in two seperate waves on Sept. 1 and Oct. 1, the first selectman said.
As of Friday, Kervick said the complex already had a 90 percent occupancy rate.
He called the transit-oriented apartment complex a “catalyst project” for other new developments downtown, especially the town’s ongoing restoration of its historic train station, which will eventually connect to the CTfastrak line.
“It puts the feet on the streets in the downtown area near the new train station,” Kervick said. “We have small shops and plans for larger shops but they are all dependable on this critical mass of people living downtown. They feed off each other.”
Kervick added that Beacon Communities has met all of its construction timelines since breaking ground on the development in Jan. 2018.
The Montgomery Mill building sits by the Windsor Locks Canal State Park, directly next to the Bridge Street Bridge connecting Windsor Locks and East Windsor.
The project has received assistance from both the town and state, with the town providing property tax breaks over a 10-year period and the state providing millions in grants, loans, and housing credits.
In 2017, Windsor Locks voters approved a final $8 million in state funding; the town was used as a “passthrough entity” from the state to the developer.
Beacon that year paid the town a $375,000 permit fee before it began renovating the building.
Journal Inquirer contributed to this report.
This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Learn moreHartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
SubscribeDelivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments