64 Avonwood Rd Avon, CT 06001

This exceptional Avon, CT property presents a rare development opportunity encompassing a significant expansion plan. The approved plans detail a 250-unit addition to an existing 189-unit complex, situated on a generous 29.39-acre lot at 64 Avonwood Road. The expansion will consist of two four-story buildings adding 196 apartment units, offering a diverse range of floor plans to cater to various lifestyles. These include 122 one-bedroom, 30 two-bedroom/one-bathroom, 32 two-bedroom/two-bathroom, and 12 three-bedroom/two-bathroom apartments. Further enhancing the residential options, the project also incorporates 14 one-bedroom/one-bathroom, 14 two-bedroom/one-bathroom, and 26 three-bedroom/2.5-bathroom townhome-style units. Residents will enjoy upgraded amenities including a new pool and clubhouse, expansive patio and pavilion, basketball courts, picnic areas, grilling stations, walking trails, and ample outdoor parking. Twenty percent of the expanded units will meet Affordable Housing requirements. The expansion is projected to increase monthly rent for existing tenants by approximately $75 due to the significant amenity enhancements. The current ownership team is available to oversee and manage the project's execution. This offering includes the option to purchase the existing property (MLS #24037027) along with the development rights. The asking price for this substantial development opportunity is $12,000,000.