New downtown Meriden apartment building accepting applications

New downtown Meriden apartment building accepting applications

MERIDEN — The developer of Meriden Commons I on State Street is accepting applications for the 75 apartments in the complex, which is expected to open in April.

Pennrose Properties, the project developer, is pre-leasing the new downtown units. Meriden Commons I and Meriden Commons II is a partnership with Pennrose, the Meriden Housing Authority and the Cloud Co.

The new units are spacious, with bottom floors offering high ceilings. There is an open floor plan for the kitchen and living areas. The kitchens have granite countertops, appliances and dishwashers. Large windows on the building’s south side showcase a view of Meriden Green.

Meriden Commons I and II, estimated to cost about $60 million, will create 151 units of new multi-income housing and 15,000 square feet of commercial space in the city’s transit-oriented district. The plans for Meriden Commons II call for 76 apartments.

“We’re very pleased that the construction is on schedule and pre-leasing is underway,” said the city’s Economic Development Director Juliet Burdelski. “This is another key milestone in Meriden’s downtown transformation.”

According to a price list included with the application, the rent for a one-bedroom unit for those making less than 50 percent of the average median income is $729 per month. Market rate rent for a one bedroom unit is $1,400 per month.

A two-bedroom unit for two people earning less than 50 percent of the average median income is $874 per month. The market rate rent is $1,600 per month for a two-bedroom unit.

A three-person household earning less than $41,300 will pay $1,008 for a three-bedroom unit. There are no three-bedroom market-rate units.

PennRose Regional Vice President Charles Adams hopes to bring a restaurant and possibly a deli into the 4,000-square-foot commercial space on the ground  floor of Meriden Commons I. The complex will have a community room, fitness center and computer room, in addition to a playground outside.

Meriden Commons I will be the second new apartment complex to open in the downtown area near the recently completed train station and Meriden Green park. A Meriden Housing Authority partnership with Westmount Management at 24 Colony St. took only several months to lease and has a wait list. Its market-rate price on a single bedroom is $1,250.

“I expect folks on waiting lists at other Meriden properties will apply to Meriden Commons as well,” said Adams.  “Each property however maintains its own waiting list.”  

Financing for the Meriden Commons I project was achieved from a mix of private investment, low-income housing tax credits, and $5.7 million from the state Department of Housing.


Twitter: @Cconnbiz