Construction has commenced on a 240-unit multifamily project dubbed Springside Middletown in Connecticut. A joint venture between Harbor Group International LLC (HGI) and PB Development is building the residential project.
The developers recently started site preparations for the Springside Middletown project, situated within two miles of downtown Middletown. Its location will be near Interstates 84, 91 and 95. Therefore, it offers easy commutes to major area employers and universities, including Prudential, Pratt & Whitney, ESPN and Wesleyan University.
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HGI’s President, Richard Litton pointed out that the location of the Springside Middletown project was quite favorable. Especially since the Middletown region is still largely underdeveloped, despite the strong employment opportunities in the area. Litton said this has created a robust demand for high-quality multifamily housing options in the region.
Development plans for Springside Middletown
Springside Middletown will be a 240-unit property, featuring a mix of one, two and three-bedroom units. The units will be in either townhome layouts or part of a four-story building, with an average size of 1,020 square feet. However, the shared amenities available on the property will be split between two buildings, totalling 11,000 square feet.
The two amenity buildings at Springside Middletown will include a club building and a recreational building. Beinfield Architecture designed the club building which will have extensive coworking spaces, a coffee bar, and a standard management system. While the recreational building will house a high-end fitness centre designed by Pelton and Precor.
Additionally, residents will have access to a yoga and spin studio, a golf simulator room and a climbing wall. The recreational building will provide a pool, grilling stations, bocce and pickleball courts, and a dog park. An outdoor bar, a playground and extensive walking trails are also available on the property.
The Joint Venture partners estimated that Springside Middletown would cost around $83.5 million. However, HGI intends to contribute about 80% common equity required for the Springside Middletown project. As a result, HGI will assume ownership and management of the community, once it reaches completion in 2025.