The upcoming downtown Columbus Commons Development project is about to make the city of New Britain even better! All 15 Aldermen on the city’s Common Council have approved the sale of the 3 acres of land located at 125 Columbus Boulevard in downtown New Britain for a future $55 million mixed-use development project. This development project will bring exciting new retail and residential options to the central business district in town and should spark future growth in the area. It will be the largest retail and residential construction project that has occurred downtown in several years.

 

Although still in the early stages of development, there are big things planned for the development, known as Columbus Commons. This urban style development will include retail and residential units within its 230,000 square feet of space. There will be two 6-story buildings on the property. The first floors will include spaces for retailers, restaurants, and offices, covering 20,000 square feet. It is unknown as of yet how this space will be divided up but the developers are hoping that the future tenants will cater to the younger, modern crowd by offering services that they need and desire. Above the retail space, the buildings will house 160 apartment units. These units will be a mix of market rate apartments and “workforce” housing, for those residents who earn within a specific income. Between the two buildings will be an interior courtyard, with access to the retail spaces surrounding it. Within the site, there are also plans for plenty of green spaces, ensuring that the development adds aesthetic charm to the area.

 

The developers of the project are hoping to break ground for Columbus Commons in about a year. This will depend on funding for the project. The developers are planning on applying for grants through the Department of Economic and Community Development, federal tax credits, Department of Housing flex funds, and finding additional sources of funding. It is hoped that all construction and the leasing of the spaces will be complete within 5 years.

This downtown project will bring local economic development to the community and allow residents to have access to even more amazing amenities. With beautiful outdoor spaces, great retailers, new housing options and more, downtown New Britain will be another reason to call this community home.


If you are interested in Buying your dream home in New Britain, give MJ Agostini Real Estate a call today or visit our website at http://www.mjagostini.com/.