A new residential community, The Residences at Crosstree, recently broke ground in Freeport, Maine. The garden-style apartment community will consist of 144 units in 6 buildings, garage spaces, a clubhouse and outdoor pool. The apartments will be developed through an extension of the partnership of The Simon Konover Company, KGI Properties and Devine Capital.
The land for this new development, previously owned by LL Bean, is located just off exit 20 on I-295. This convenient location is approximately 20 minutes from downtown Portland, Maine’s largest city, and within minutes of downtown Freeport’s restaurants, coffee shops, grocery and retail stores. The Amtrak station in Freeport provides convenient transportation to Boston in just over 3 hours and the METRO BREEZ bus provides service to Portland, Brunswick and other towns. Freeport boasts 37 miles of coastline and is a popular tourist destination for outdoor activities, dining and retail experiences from the flagship L.L. Bean store to local boutiques and name-brand outlets.
While site clearing for the site for The Residences at Crosstree has begun, vertical construction is planned to commence in early 2Q 2021. The apartment community will consist of a mix of studio, one-, two- and three-bedroom apartments with high quality finishes, private balconies or patios, stainless steel appliances, in-unit laundry, and garage spaces. Amenities will include an outdoor heated pool, fitness center, cyber lounge, conference areas, dog park, acres of open space and much more. Leasing is scheduled to begin in the 3rd quarter of 2021.
About KGI Properties
KGI Properties LLC is the Development, Leasing and Property Management Division of The Koffler Group, operating in the Northeastern United States. Established in 2001, KGI manages, for both its own account and third-party clients. The properties are located in CT, MA, ME, NH, RI and NC, across all asset classes. The Koffler Group began its operation in 1978, having been capitalized with proceeds resulting from founder Sol Koffler's sale of American Tourister Luggage Company to Hillenbrand Industries. For more information, visit www.kgiproperties.com.
About The Simon Konover Company
Founded over 60 years ago, The Simon Konover Company is a fully integrated real estate organization nationally-recognized as one of the premier real estate entities operating throughout the Midwest and Eastern United States. Headquartered in West Hartford, Connecticut, The Simon Konover Company employs hundreds of people through its operating companies including Konover Commercial Corporation, Konover Residential Corporation and Konover South, LLC. The Simon Konover Company and its related-entities own and manage apartment communities, office and industrial space, retail space, and selected hospitality assets. For more information, visit www.simonkonover.com.