Developers in Cheshire broke ground Monday on a mixed-use development two decades in the making.
Stone Bridge Crossing will go up on a 107-acre site just off Interstate 691.
The complex will include a grocery store, gas station, 300 apartments and 140 multi-family housing units.
The project will bring needed multifamily housing to the town, which is primarily made up of single family owner-occupied houses and condos, according to Bill Finger, co-managing partners of Eastpointe, the apartment complex developer.
“We think it’ll be really important. I don't recall when there's been any kind of market rate rental apartments of this size and just quality in Cheshire, probably almost never,” Finger said.
None of the apartments will be designated affordable. Plans were already in place for the market-rate apartments when Eastpointe joined the project, Finger said.
About 3.5% of Cheshire’s housing stock is designated affordable, which is far below the state mandated of 10%. In 2022 Cheshire’s Planning and Zoning Commission approved a town-wide affordable housing plan and set a goal of increasing affordable housing by 2% over the next five years. Under the plan, the town would need to have 100 housing units considered affordable.
Town leaders say several affordable housing projects are currently in various stages of the development process.
