Harbor Group International Funds Multifamily Development in CT
Affiliates of Harbor Group International (HGI) and PB Development have announced a joint venture for the development of Springside Middletown, a 240-unit Class A multifamily community in Middletown, Connecticut.
HGI will contribute 80% of the required equity for the development, which has a total capitalization of approximately $83.5 million. Upon completion in 2025, HGI will assume ownership and management of the community.
With townhome layouts and one, two, and three-bedroom units featuring modern amenities, Springside will include two amenity buildings with co-working spaces, fitness facilities, and outdoor recreational areas.
“Despite strong employment opportunities in the region, Middleton has been largely underdeveloped, creating robust demand for high-quality multifamily housing options in the area,” said Richard Litton, president of HGI. It is the company’s second investment in Connecticut, following the acquisition of The Pavilions in Manchester.
Harbor Group International Funds Multifamily Development in CT
Harbor Group International Funds Multifamily Development in CT
Affiliates of Harbor Group International (HGI) and PB Development have announced a joint venture for the development of Springside Middletown, a 240-unit Class A multifamily community in Middletown, Connecticut.
HGI will contribute 80% of the required equity for the development, which has a total capitalization of approximately $83.5 million. Upon completion in 2025, HGI will assume ownership and management of the community.
With townhome layouts and one, two, and three-bedroom units featuring modern amenities, Springside will include two amenity buildings with co-working spaces, fitness facilities, and outdoor recreational areas.
“Despite strong employment opportunities in the region, Middleton has been largely underdeveloped, creating robust demand for high-quality multifamily housing options in the area,” said Richard Litton, president of HGI. It is the company’s second investment in Connecticut, following the acquisition of The Pavilions in Manchester.
Source link
Comments
More posts