A Joint Venture between JCS Capital, LLC and ACF Properties, LLC has secured and closed on a 100 unit residential development property in Brookfield, CT. The 4.76 acre property is already entitled with 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. 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,” stated 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 in the summer of 2014 and will be ready by fall of 2015 for occupancy.