As a Boston-based developer prepares to start building 100 mixed-income apartments in an affluent Farmington Valley suburb, the state is kicking in $3 million to help with the second phase that will add another 76 affordable units. Beacon Communities LLC, one of the country’s biggest affordable housing builders, has been planning a major residential development at the former Security-Connecticut Life Insurance building in Avon since 2021. After years of arranging financing and securing permits, Beacon is poised to break ground next year on 100 new apartments that it will build on the grounds of the former office building on Security Drive in Avon. That project is called The Homes at Avon Park, and about 85 of the units are expected to be priced at state-designated affordable rates. Earlier this year the Connecticut Housing Finance Authority awarded $2.1 million in federal housing tax credits for the second phase, Avon Village. That $39 million initiative involves remodeling the four-story office headquarters itself. The Connecticut Bond Commission on Thursday approved a low-interest $3 million loan to advance it.
Developer readies to build 176 mixed-income apartments at old CT office park
