The city of New Britain and developers are breaking ground Wednesday on a $58 million mixed-use development located downtown near a CTfastrak bus station.
Funded in part with a $2.7 million brownfield remediation grant from the state, the two-phase transit-oriented development, dubbed “Columbus Commons,” at the former police station at 125 Columbus Blvd., will include two, five story buildings with about 160 residential units, an interior courtyard, and retail and/or office space on the first floor, according to New Britain Mayor Erin Stewart.
“Columbus Commons will be the catalyst for a new wave of development and energy in our downtown area,” the mayor said.
Xenolith Partners and Dakota Partners are the developers. Dakota has also been active in downtown Hartford apartment developments, including conversion of the Hartford Office Supply Building into rental units.
In June, the Connecticut Housing Finance Authority awarded the project a $1.6 million low income tax credit. Bank of America will provide the construction loan, permanent loan, and also invest in the tax credits, generating approximately $16 million in equity for the project, Stewart said.
A ground-breaking is scheduled for 11 a.m. at the site.
