New townhouses coming to Niantic
All nine condos to be 21,000 square feet, cost in the mid-$400,000s
East Lyme — Nine condos, described as luxury townhomes, are slated to be built at 45 Hope St. in downtown Niantic by next summer.
Each of the two-story townhouses, in the “Forty5 Hope” development on the corner of Hope and Methodist Streets, will be 2,100 square feet.
The first floor of each unit will feature a large living room and dining area, large kitchen and a half-bathroom, while the second floor will have two bedrooms, a den, laundry and two more bathrooms, said Bill Heenan, broker, of Heritage Properties. The townhouses also will have attached garages and decks, he said. Six of the townhouses will sit right on the sidewalk, while another three units will be located behind them. Scott Desmond of Salt Island Properties is the developer, while the Bill
Heenan Group at Heritage Properties is marketing the buildings.
Starting prices for the townhouses will be in the mid$400,000’s, Heenan said.
The Zoning Commission approved the development several years ago, but it was never built. The commission in May approved a five-year extension for the site plan for the condominiums.
Heenan said it’s now a much better market along the shoreline. “It’s a slightly inclining, but much more confident market,” he said.
Every unit will have an elevator shaft from the basement to the second floor, with potential to install an elevator for an additional cost, he said.
Heenan said he expects many of those who decide to live in the townhouses may be middle-aged people who are looking toward their retirement, or people in their retirement years. The individuals may not need an elevator, but may like to have the option of an elevator in the future, in case life demands it.
The people may live in other towns in the state and want to move near the water, or they may be local residents who love the town and want to remain here, but are hoping to downsize, he said.
The foundation is being dug and the condos are anticipated to be built for summer 2018, Heenan said.
Heritage Properties will be on site with floor plans and information about the development from 11 a.m. to 1 p.m. Saturday, Oct. 28, and Sunday, Oct. 29.