New Boston Fund Adds New Condos to Connecticut Development

New Boston Fund Inc. has completed the latest phase of its development at Seaside Village in Niantic, Conn.

Niantic, Conn.—New Boston Fund Inc. has completed the latest phase of its development at Seaside Village in Niantic, Conn. The entire Seaside Village property now includes 110 residences, 30 percent of which are affordable.

The latest phase saw the completion of the Village Center building, which consists of 41 condo units with seven different floor designs, ranging in size from 924 square feet to 1,304 square feet, along with a Village West building containing four townhome-style units that offer vaulted ceilings and walk-in closets. The property is now over 70 percent sold all together, with 32 of the newly constructed condo units still available for sale.

Since May 2009, New Boston Fund has delivered and sold 78 units at Seaside. The final phase of the development, to be known as Village West and Pondside, is currently in the final planning stage. It will bring eight additional townhome-style units to the property.

Carolyn Morrison, the broker at Seaside, tells MHN that “interest in the property comes from all over the United States, although buyers are predominantly from Connecticut, New York and Massachusetts.” The town of East Lyme, which contains the village of Niantic, offers direct rail access to Boston and New York and was voted one of the “Top 20 places to Retire” by Connecticut Magazine and one of “America’s Best Small Towns,” according to Money Magazine.

This newest phase at Seaside was designed by The Architectural Team and built by Dellbrook Construction. Guilford Savings Bank was the construction lender for the project.