The Beam, a 203-unit apartment complex in New London, moves towards completion

Built on a once vacant site in the Fort Trumbull area, a five-story, 203-unit apartment building on Howard Street is moving towards completion. After a little more than a year of construction, the approximately $30 million project is almost halfway done and leasing is expected to start soon. The developer, New Haven-based commercial real estate development company RJ Development + Advisors, has given it the name The Beam. Jason Rudnick, principal of the development company, said the apartments will offer the community, security and convenience someone would want in the city. The development is the largest in the state so far to take advantage of federal Opportunity Zone tax incentives authorized in 2017 to bolster low-income communities. The federal government in 2018 approved 72 opportunity zones in Connecticut, including three in New London.

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