Developer Plans 176 Mixed-Income Apartments at Former CT Office Park

Beacon Communities LLC, a Boston-based developer with a long history in New England housing, is moving forward with a big mixed-income apartment project in Avon, Connecticut.

With help from the state, the old Security-Connecticut Life Insurance office park on Security Drive will become 176 new apartments. Most of them will be affordable, in a two-phase project that local officials think could push the town much closer to its state housing goals.

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Transforming a Former Office Park into The Homes at Avon Park

The first phase, called The Homes at Avon Park, should break ground next year.

This redevelopment comes as towns like Avon, West Hartford, and Manchester look for ways to turn aging commercial properties into much-needed housing.

Phase One: 100 Mixed-Income Apartments

Phase one will bring 100 new apartments, with around 85 homes priced at state-designated affordable rates.

The units will be a mix of one- and two-bedroom layouts, aiming to serve individuals, couples, and small families who can’t really afford the Farmington Valley market right now.

The site, a former corporate campus, has been under redevelopment talks since 2021.

Beacon Communities plans to buy the property before the end of the year, with construction likely to start in late spring or summer.

That kind of timeline is popping up a lot in places like Hartford, New Britain, and Middletown, as developers hustle to meet the demand for decent rental housing.

Avon Village: Converting an Office Building into Affordable Housing

The second phase will focus on reusing a four-story office building already on the site.

Instead of tearing it down, Beacon wants to give new life to a 50-year-old property that once represented the region’s insurance and office workforce.

Phase Two: 76 Fully Affordable Units

Phase two, named Avon Village, will turn the old office building into 76 affordable apartments.

This approach mirrors what’s happening in places like New Haven and Bridgeport, where older commercial properties are getting a second chance instead of sitting empty.

The Connecticut Housing Finance Authority has already helped out, awarding $2.1 million in federal housing tax credits.

Those tax credits are crucial, making it possible to keep these apartments affordable for the long haul.

State Support: Bond Commission Approves Low-Interest Loan

The state is stepping in with important financial support to get this redevelopment moving.

This is all part of a wider push to boost affordable housing and revitalize properties that otherwise might just sit unused.

$3 Million Loan Toward a $39 Million Redevelopment

On Thursday, the Connecticut Bond Commission approved a $3 million low-interest loan for the Avon Village phase.

That money will help finance what’s expected to be a $39 million redevelopment of the office building.

Low-interest state loans and federal tax credits are now pretty standard for affordable and mixed-income projects across Connecticut. Without them, a lot of these developments just wouldn’t happen.

Boosting Avon’s Affordable Housing Stock

Like a lot of suburban towns, Avon has struggled to hit the state’s affordable housing targets.

This new development could make a real dent in the town’s housing mix.

From 4.15% Toward the State’s 10% Goal

Town officials say this project will help increase Avon’s affordable housing stock, which was about 4.15% last year.

The state’s goal is for 10% of a community’s housing to qualify as affordable under state rules, but that’s been a tough mark for many towns.

By adding 176 income-restricted units, Avon is getting closer to statewide policy goals. It’s also responding to local demand from workers, seniors, and young families who want to live near jobs, schools, and services.

Amenities and Community Features at The Homes at Avon Park

Beacon Communities isn’t just building apartments—they’re planning to offer amenities that fit how people actually live and work today.

Modern Living Spaces and Outdoor Amenities

The development will feature:

One- and two-bedroom apartments with modern layouts.

Community spaces where residents can gather or join programs.

Fitness areas that make it easier to stay active and healthy.

Trails and playgrounds so folks can get outside and connect with nature—or just unwind a bit.

Beacon keeps highlighting community in its Connecticut projects, and this one’s no exception. With Avon as its 11th market in the state, Beacon’s reach now stretches from the shoreline all the way up to the Capital Region.

The old insurance campus is becoming The Homes at Avon Park and Avon Village. Avon’s set to welcome new neighbors and a wider mix of housing, which honestly just feels in step with what’s happening across Connecticut—more smart growth, more chances for everyone to find a place here.

Here is the source article for this story: Developer readies to build 176 mixed-income apartments at old CT office park

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