Property of the Month: Windsor Station: Winner of CREW-CT 2018 Blue Ribbon Award for Best in Class Multifamily/Residential

May 18, 2018 - Connecticut

Windsor, CT Following on the success of First Town Square, the town of Windsor acquired a small warehouse building adjoining its public works equipment garage at 69 Mechanic St. to create a larger disposition site for redevelopment. This ultimately led to amendments of the Zoning Ordinance that increased allowable residential density and established a parking maximum for the redevelopment area.

Windsor Station Apartment was recently named a winner of the CREW-CT 2018 Blue Ribbon Awards for  Best in Class Multifamily/Residential. 

Windsor Station Apartments is a 130-unit market-rate rental project on a 6.5-acre site adjoining the passenger rail station. Lexington Partners is the owner of the development.  The $23 million development project included demolition of two former industrial buildings, major environmental remediation and construction of two four-story elevator served buildings with on-site parking and ample amenities. The project includes 32 studios, 65 one-bedroom and 33 two-bedroom units and is targeted to an underserved rental market of young professionals 20 to 35 years of age and baby boomers.   

Construction was completed in May 2017. 90% occupancy was achieved in five months. The target market is clearly being served as more than 64% of the initial residents are in the 18 to 35-year range.

During construction the project created 350 construction jobs and now has 10 full-time permanent jobs to manage the property.

The completion of this project is more great news for Windsor and proof that the town is leading the way when it comes to attracting and promoting quality economic development,” said mayor Don Trinks. “Windsor Station clearly fits and complements Windsor Center’s Transit Oriented Development Master Plan and Redevelopment Strategy and will help strengthen and enliven our wonderful town center.”  

The project team included Barton Partners, Lexington Partners, Allen and Major, Associated Construction, HRP Associates and the town of Windsor.

Comments

Add Comment


More from the New England Real Estate Journal