$83.5 Million Multifamily Development Is Coming To Middletown

MIDDLETOWN, CT — Affiliates of Harbor Group International, LLC (HGI) and PB Development announced the joint venture for the ground-up development of Springside Middletown.

Springside Middletown is a 240-unit multifamily development project expected to be completed in 2025. Springside will be located within two miles of downtown Middletown. The Hartford Courant reports that the development will be constructed off of Newfield Street.

The news release states the city’s location between Hartford and New Haven and its proximity to I-91, I-84 and I-95 will offer residents convenient access to central Connecticut’s diverse employment base and universities.

“Despite strong employment opportunities in the region, Middletown has been largely underdeveloped, creating robust demand for high-quality multifamily housing options in the area,” said Richard Litton, President of HGI, in a prepared statement. “With the market’s favorable supply and demand fundamentals, we look forward to partnering with PB Development to deliver the modern housing Middleton’s residents are seeking.”

Springside will feature townhome layouts and a 4-story building comprising one, two and three-bedroom units with an average size of 1,020 square feet. Unit interiors will offer stainless steel appliances, washer and dryer machines, quartz countertops and a premium closet organization system.

The multifamily community will also feature two unique community amenity buildings totaling over 11,000 square feet. Designed by Beinfield Architecture, the Club Building will include:

• Extensive co-working spaces.
• A spacious, naturally-lit great room.
• A coffee bar.
• A state-of-the-art package management system.

The Recreation Building will include:

• A high-end fitness center outfitted by Peloton and Precor.
• Yoga and spin studio.
• A climbing wall.
• A golf simulator room.

The grounds will include:

• A pool with an outdoor bar.
• Grill stations and cabanas.
• A bocce court.
• Pickleball courts.
• A dog park.
• A playground and extensive walking trails.

HGI will contribute 80% of the required common equity for the development. The total capitalization for the development is approximately $83.5 million. Upon the completion of the project, HGI will assume ownership and management of the community.

Springside is HGI’s second investment in Connecticut in the last four months, following the acquisition of The Pavilions in nearby Manchester in December 2022.