Four years after it was first unveiled, the 250-unit Flanagan’s Landing luxury apartments in Glastonbury has hit a significant milestone.
Construction will soon begin on the first phase now that Hartford developer Martin J. Kenny and his Lexington Partners LLC have finally closed their purchase of 31 acres that were a tannery in the center of town, officials said Thursday.
Project funding consists of a $36.5 million construction loan from Wells Fargo Bank and $15 million in equity from a partnership consisting of Lexington, LAZ Investments, and an unidentified private institutional real estate fund.
When built, Flanagan’s Landing will have 47 units in the restored mill buildings and 203 units within five new garden-style apartment buildings.
Amenities will include in-unit washers/dryers; salt water pool, fitness center, clubhouse, garages, carports, two electric-car charging stations, and a doggie park.
The property also will feature 6,153 square feet of commercial space designed for a restaurant and will include an outdoor patio that will overlook a waterfall and Roser’s Pond, as well as a roof-top wine terrace.
