GRISWOLD, CT– Dakota Partners recently secured all permits and closed on the property at 89 and 92 Preston Road in Griswold, CT. Construction on the new affordable housing community, Oak Tree Village, began in late 2019.
At the end of 2020, the formerly vacant site will feature 72 new units within two buildings spanning three floors. Planned in two phases, the entire development will consist of 144 apartments within four, three-story garden-style buildings. Phase I will also include a clubhouse for residents to enjoy. The community will offer a mix of one- and two-bedroom, open-concept style apartments to a mixed-income market.
“When Phase 1 is completed at the end of 2020, Oak Tree Village will fill a necessary void of affordable housing in Griswold. Future residents will benefit from the many public transportation options available in close proximity to the community, including a proposed Route 8 Southeast Area Transit (SEAT) bus stop at the entrance of the property. Commuters needing access to Route 395 will find Oak Tree Village’s location with an access ramp just outside of the community,” said Dakota’s project Development Director, Muammar Hermanstyne. “Downtown Griswold – which is less than one mile away – is currently undergoing revitalization efforts to provide more shopping and entertainment options.”
A real estate developer and contractor, Dakota Partners acquires and develops multi-family rental and condo communities across New England and the mid-Atlantic, a significant percentage of which are garden-style affordable housing developments.