SOUTHINGTON – Plans to construct town homes and age-restricted apartments on Eden Ave. are moving forward, with a groundbreaking expected for late February or early March.
The project was approved by the local zoning commission two years ago, but stalled out due to “complications” with a partner, according to Michael Kokes, Managing Principal at Homestake Capital, LLC of Brielle, New Jersey. Kokes said that Homestake Capital is now taking full charge of the project and it is “going forward full steam.”
“I’m happy to see that this project is back on track,” said Lou Perillo III, town economic development director.
Kokes said that Homestake has received approval to construct 64 units, which include 41 age restricted apartments and 23 townhouses.
“It’s going to be a nice, residential downtown center,” he said. “It will be close, within walking distance, to a lot of the local shops. I don’t think Southington has had construction like this in a long time, so we’re pretty excited.
Kokes said that when Homestake does break ground on the project, he would like to see a ceremony or ribbon cutting to accompany it. Currently, the site has been cleared and water and sewer pipes have been installed.
“The construction is expected to take two years or less,” said Kokes. “We have met with the town a couple of times about this project and we’re happy to have worked together with them diligently as it moves forward.”
In the next week, Kokes said that he will be going through the permitting process for the townhouses. After that, they plan to put in other utilities and to begin digging out the foundations for the buildings.
“Then everything else will be set in motion,” he said.
According to homestakecapital.com:
“Homestake Capital, LLC (“Homestake”), a boutique real estate investment firm located in Monmouth County, New Jersey, is focused on providing direct investment and non-traditional lending to residential and commercial developers.”
Brian M. Johnson can be reached at 860-973-1806 or email@example.com.