Published on : May 12, 2015
The developers and local body officials celebrated the commencement of construction of Kennedy Flats, which is a housing project worth US$ 80 million on Main Street in Danbury. The project is regarded as the keystone of downtown development.
The idea of the project is to develop market-rate housing in the Main Street area for people who have disposable incomes to spend. If people reside in the area, there will be demand of services, as commented by the Mayor.
While the local body officials had celebrations on Friday, construction for the project commenced earlier this year in spring. Several foundations for the project are already laid, in addition a concrete, large shaft for the elevator and wooden framing is coming in order for the first five buildings.
As per a project manager with Greystar, which is the national development company for the apartment complex the first few uits are likely to be ready in January. The project includes 374 units on the site that is nearly 10 acres in area, having a mix of studio, three bedroom town houses, and one-and-two-bedroom apartments. The price range of rentals is expected to be from US$ 1,500 to US$ 3,000.
Moreover, the project manager added, the construction sequencing has been planned in such a way that apartments delivery will happen in the course of construction. He further added, the project which is being developed in one phase is aimed to be completed ny the end of next year.
The Mayor of the town added, the site at one time served as the first shopping mall in the city, before it became the headquarters of Amphenol RF, a spare parts manufacturer that left the property in the mid 2000s.