A rendering of Atlantic Pointe shows Phase I of the project, which was completed July 1, on Admiral Fitch Avenue in Brunswick. Phase II of the development will look identical, according to Jones Street Investment Partners, the company behind the development. Courtesy of Jones Street Investment Partners
The Atlantic Pointe housing development in Brunswick is starting the second phase as it begins renting available apartments.
Foundation work for the next stage of the project, which is located in Brunswick Landing at the corner of Admiral Fitch Avenue and Admiral Harry Rich Drive, started in April and will add four four-story buildings with a total of 64 units to the existing 181 units built in Phase I. The final building for the first phase was completed at the beginning of July.
“We understand the need for housing throughout New England,” said Matt Ranalli, co-founder and chief information officer of Jones Street Investment Partners, the company behind the development. “Brunswick and Southern Maine, generally, have been on our radar for a long time.”
The second phase will bring in one- and two-bedroom units and will include amenities such as a fitness center, dog park, business center and green space.
Most units will be priced at market rate, with Atlantic Pointe’s website showing that current offerings start at over $1,800 for a one-bedroom apartment and $2,400 for a two-bedroom. Fifteen percent of units will be affordable housing, as required by town ordinance. The market-rate units, Ranalli said, are not restricted by income.
While the Boston-based company already owns property in Brunswick Landing — the development formerly known as Pegasus Landing, now known as Haven — Atlantic Pointe marks the first Brunswick development the company has embarked on.
With leasing open for the first phase, Ranalli said community reception has been positive. About 50% of available apartments have been occupied.
“This area generally needs more housing,” Ranalli said. “And we always knew that once we delivered, there’d be a lot of people interested in living in our community.”
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