Brookfield CT A joint venture between JCS Capital, LLC and ACF Properties, LLC has secured and closed on a 100-unit residential development property. The 4.76 acre property is already entitled with land use and municipal approvals for the construction of 100 apartments. The units will be comprised of one and two bedrooms. In addition there will be on site staff housing. The New England style buildings will boast amenities for the residents such as a pool and fitness center with men's and women's locker rooms. There will also be ample parking and in unit laundry facilities.
The joint venture is comprised of JCS Capital LLC who's affiliate JCS Construction Group Inc. will be the contractor, and ACF Properties LLC who currently owns and operates an additional 100-units in the Danbury area. "This was a very logical addition to our current portfolio, we have the infrastructure in place to manage this development and are excited to see the area continue to grow," said John Farley of ACF Properties LLC.
The approval came after a year of planning and amicable negotiations between the town and developers. "It is refreshing to see a town that appreciates and encourages economic growth by adopting incentive zoning and adaptive reuse of properties. Brookfield is invested in the revitalization of the Four Corners and the town will be very successful if they stay on course by providing mixed uses and adaptive re-uses that will attract people resulting in a usable downtown to its residents," said Justin Shaw, president of JCS Construction Group Inc.
Construction is slated to begin this summer and will be ready by fall of 2015 for occupancy.