The housing development affiliate of New York-based Vessel Technologies has purchased a plot of vacant land in Cheshire for a planned multifamily apartment building.
Vessel RE Holdings paid $525,000 on Oct. 10, for 146 Realty Drive, where it will build a 70-unit apartment building. The project won Planning and Zoning approval in May.
The planned five-story building will contain 66 one-bedroom units and four two-bedroom apartments on property off Route 10 that was previously zoned as industrial.
Nearby businesses include Barker Animation and architectural firm SLR. The property also has close access to Route 691.
Vessel follows a set formula when designing its buildings, using similar architecture and engineering to quickly and efficiently build “attainable” units geared toward middle-income residents who don’t qualify for subsidized housing but for whom luxury or even market-rate rents are out of reach.
Vessel’s first Connecticut project was a 30-unit building nearing completion in New London, which should be ready for occupancy by year’s end, company officials said.
Another project planned in Rocky Hill is Vessel’s largest so far, with 96 units spread over two buildings. Company officials expect to close on that property next month. Vessel is also seeking a wetlands permit for a proposed development in Granby.
