A joint venture between Stamford-based JCS Capital L.L.C. and Danbury-based ACF Properties L.L.C. has secured and closed on a 100-unit residential development property in Brookfield.
The 4.76 acre parcel already possesses land use and municipal approvals for the construction of 100 apartments.
The units will feature high-end finishes and be comprised of one and two bedrooms. There will be on-site staff housing.
The New England-style buildings will feature a pool and fitness center with men’s and women’s locker rooms. There will also be ample parking and in-unit laundry facilities.
“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, which currently owns more than 100 apartment units in the Danbury area.
The companies said the approval came after “a year of planning and amicable negotiations between the town and developers.”
“Brookfield is invested in the revitalization of the Four Corners and 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.
Construction is slated to begin summer 2014 and to finish fall 2015 for occupancy.
