PRESS RELEASE

For Immediate Release

November 21, 2022

Beacon Communities Hosts Groundbreaking at Parkside Village in Branford

Construction is expected to be completed in Spring 2024

BRANFORD, CT –  Beacon Communities today broke ground on Parkside Village I, a redevelopment of an existing fifty unit public housing community. Upon completion, Parkside will feature 67 new apartments and be an affordable, family housing development.

Originally built in 1974, Parkside will see much-needed improvements in the redevelopment, which will involve the demolition of existing buildings and the construction of a new, 67-unit building. The new building will include larger units, accessibility measures, upgraded management of stormwater runoff, parking and other amenities for the residents. The community will be designed and built to Passive House standards. Sixty of the apartments will be affordable to households earning at or below 60% of the area median income. Current Parkside Village I residents, all of whom are elderly and/or living with a disability, will be able to move back into the building once completed. Construction of the building is expected to be complete in December 2023, with additional site work completed in the spring of 2024.

“The Governor and I are committed to making our state more affordable for all Connecticut residents,” said Lieutenant Governor Susan Bysiewicz. “This redevelopment sustainably replaces and increases Branford’s Affordable housing stock, providing more much needed opportunities, particularly for our disabled community and seniors.”

The revitalization of Parkside Village would not have been possible without Beacon’s partners: The Housing Authority of Branford, Elm City Communities (The Housing Authority of New Haven), Connecticut Department of Housing, Connecticut Housing Finance Authority, Citizens Bank, Federal Home Loan Bank of Boston, U.S. Department of Housing & Urban Development, the Town of Branford, RBC Community Investments, Boston Capital Finance and Bank of New York Mellon.

“We are absolutely thrilled to be breaking ground on Parkside today,” said Beacon Communities CEO Dara Kovel. “After a long road, we at Beacon cannot wait to bring state-of-the-art affordable housing to the people of Branford.”

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About Beacon Communities LLC

Beacon Communities LLC is a privately owned real estate firm that develops, acquires, invests in, and manages a wide range of multi-family housing. Their portfolio includes affordable housing, market rate housing and mixed income-housing. Their developments range from new construction, to historic adaptive reuse, to the renovation of existing housing. They take on challenging developments and make them succeed. Their driving passion is to create well-designed, healthy homes that improve the quality of life of their residents and enhance the neighborhoods in which they are located. For more information about Beacon Communities LLC please visit www.beaconcommunitiesllc.com.