Gateway Development/East Lyme, LLC, a joint venture between affiliates of KGI Properties of Providence, RI and The Simon Konover Company (TSKC) of West Hartford, Connecticut, is seeking a site plan modification from the East Lyme Zoning Commission to allow the long awaited commercial development at Gateway Commons to move forward.
Gateway Commons, located adjacent to exit 74 off Interstate 95, is a planned 200-acre mix-use development. Costco, the first commercial end-user and retail anchor, is eager to break ground in September 2018. The membership club will include a Costco gas facility.
Gateway Development/East Lyme, LLC will appear before the East Lyme Zoning Commission at its August 2nd meeting to request a modification to the current site plan, which was approved in October 2016. The plan modification will involve architectural changes, which are necessary for the Costco development to move forward.
Gateway Commons has been a focus of the KGI/Simon Konover team for nearly a decade. The Gateway Planned Development District (GPDD) was first approved by the Town of East Lyme in 2008 and envisioned a mix of residential and commercial uses.
“The commercial development of this property has been part of the town's long-term vision for decades. We are excited to welcome Costco to East Lyme. We know that this is just the beginning of the buildout of the project's retail space.” said Mark Nickerson, First Selectman of East Lyme. “East Lyme is primarily a residential community. The Gateway Commons project is an important piece of our small town's economic development.”
The first phase of residential development, named The Sound at Gateway Commons, features 280 luxury apartments in ten (10) buildings, was completed in 2015 and is currently 97% occupied. The luxury community includes a 6,000 square foot private clubhouse with fitness center, billiard room, media center, business center, and heated outdoor resort-style pool. The Sound at Gateway Commons is currently the largest taxpayer in East Lyme.