Developer breaking ground on affordable housing project in Stonington
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A rendering of the planned development for the former Regal Cinema site in Stonington.
READCO Property Management LLC will break ground this week on a major affordable housing project in Stonington.
Stonington Village will be built on the site of the former Regal Cinema at the corner of Liberty Street and Voluntown Road.
READCO plans 232 units including studio and one- to three-bedroom apartments, with 20% designated for middle-income renters. The affordable units will be rented to those earning between 60% and 120% of the area median income.
The development is being built with support from Build for CT, a public-private initiative between the Connecticut Department of Housing and the Connecticut Housing Authority.
The groundbreaking will start with the demolition of the former Regal Cinema, and the development will progress in three phases, aiming for completion within three years.
The developer expects approximately 77 units to be finished within the next 12 to 16 months.
In addition to the housing, the development will encompass private and public garages, a clubhouse with a swimming pool and outdoor walking trails.
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