Construction is underway after the $2.64 million purchase of the former industrial property.
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A former mill property in Enfield slated for a 156-unit apartment development has sold for $2.64 million, and construction on the long-planned project is now underway, according to a developer involved in the project.
33 North River Street LLC, a development entity formed by Avon-based Honeycomb Real Estate Partners and Windsor-based GRAVA Properties, paid $2.64 million for the 3.8-acre property at 33 North River St. on July 14, according to town land records.
In a LinkedIn post this week, Honeycomb Managing Principal Lewis Brown announced the developers had closed on the property acquisition and begun construction of the Enfield Station development.
The project will transform a long-vacant portion of the former Bigelow-Sanford carpet mill complex into a transit-oriented apartment community adjacent to the future Hartford Line passenger rail station and the Connecticut River. Plans call for studio, one- and two-bedroom apartments, along with a public riverwalk.
The development is set to receive a $9.36 million low-interest loan from the Connecticut Municipal Development Authority, the first financing approved by the quasi-public agency. It has also received a $4 million state brownfield remediation grant, a 12.5-year tax-fixing agreement from the Town of Enfield and Federal Housing Administration-backed mortgage financing.
When complete, the development will include 156 apartments, with 20% of the units reserved as workforce housing for households earning up to 80% of the area median income.
