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Harbor Group International Funds Multifamily Development in CT
Affiliates of Harbor Group International (HGI) and PB Development have announced a joint venture for the development of Springside Middletown, a 240-unit Class A multifamily community in Middletown, Connecticut.
HGI will contribute 80% of the required equity for the development, which has a total capitalization of approximately $83.5 million. Upon completion in 2025, HGI will assume ownership and management of the community.
With townhome layouts and one, two, and three-bedroom units featuring modern amenities, Springside will include two amenity buildings with co-working spaces, fitness facilities, and outdoor recreational areas.
“Despite strong employment opportunities in the region, Middleton has been largely underdeveloped, creating robust demand for high-quality multifamily housing options in the area,” said Richard Litton, president of HGI. It is the company’s second investment in Connecticut, following the acquisition of The Pavilions in Manchester.
- ◦Development
