River Bank Construction Purchases First Building Permits For Fort Trumbull Housing

A Westport construction company has paid for the first round of building permits for a residential development at Fort Trumbull.

Frank McLaughlin, project manager for the Renaissance City Development Association, said River Bank Construction filed 34 building permits for the first phrase of the “Village on the Thames” development. The company paid a filing fee of $83,000.21 for the permits, according to the Office of Development and Planning.

The city charges $18.26 per $1,000 of estimated construction value, according to the city website, with $18 charged for the permit fee and 26 cents collected for the Connecticut Education Fund. The fee anticipates about $4.5 million in construction value by this formula.

The company plans to construct Greek Revival and Italianate buildings with 103 residential units at the peninsula. The buildings will be placed on four lots in a portion of the peninsula formerly occupied by the Navy Underwater Sound Laboratory.

McLaughlin said Robert Stillman, a principal of River Bank Construction, will speak about the development at the RCDA annual meeting at 5:30 p.m. tonight in the Atrium of the Harris Building at 165 State Street. He said this will include the anticipated date for groundbreaking at the peninsula. The pre-development period for Village on the Thames ends on May 17.

The city’s development agreement with RCDA was modified in January to take advantage of options in the original agreement, including the construction of additional buildings beyond the 80 anticipated. Michael Joplin, president of the RCDA, said this would result in a project 30 percent larger than originally expected.

The development calls for a transition to owner-occupied units after an initial rental period. Stillman previously said the average two-bedroom unit would rent for $1,600 a month. The City Council approved a tax abatement in 2011 to support this schedule.

Under this agreement, 95 percent of the property tax on rental units would be exempted for the first year, with the deferral going to River Bank Construction. This would remain be in place through the fifth year, then decline to 50 percent in the sixth year and 25 percent in the seventh year as part of the plan to phase out rental units. The abatement also exempts 70 percent of the assessed value of a sold unit for the first year, with a reduction of 10 percent each year thereafter through the fifth year.

Other plans for the development include 90,000 square feet of green space, a 4,200 square foot clubhouse with features such as a leasing office and lounge and fitness areas, and the possibility of a small mooring field for boating access.

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