Marina Apartments Development

Stonington, Connecticut, is a picturesque coastal town steeped in maritime history and New England charm. Located on a narrow peninsula jutting into Long Island Sound, the town boasts stunning waterfront views, historic 18th- and 19th-century homes, and a vibrant arts and culture scene. Stonington Borough, the heart of the town, features cobblestone streets lined with boutiques, galleries, and restaurants, making it a popular destination for visitors. Known for its rich seafaring legacy, Stonington is home to a historic lighthouse museum and a thriving fishing fleet. With its blend of natural beauty, heritage, and community spirit, Stonington offers a quintessential New England experience, attracting residents and tourists alike.Northeast Private Client Group is pleased to exclusively present for sale The Marina Apartments Development, located at 21 Pawcatuck Avenue in Stonington, Connecticut. The Marina Apartments Development comprises two parcels: North and South. The North Parcel features a +/- 90,500 SF mill building, presenting a prime redevelopment prospect for 58 waterfront apartments. Notably, the adjacent section of the mill complex has been successfully transformed into The Treadmill Apartments, a 62-unit mixed-use building. The South Parcel offers 2.5 acres of undeveloped land, including a parking area and wooded section suitable for up to 58 ground-up units, providing a blank canvas for future development. Both parcels, situated along the Pawcatuck River on the Rhode Island border, can be acquired together or separately. 20% of the units must be rented to someone making 80% of the area median income. The remaining 80% of units will be market. Architectural building, structural plans, phase 1 environmental, asbestos, and a lead report are available upon request.