Costco To Anchor East Lyme Complex

EAST LYME As the residential portion of the long-stalled Gateway Commons development moves forward, First Selectman Paul Formica has confirmed that the commercial anchor for the project will be a Costco wholesale retail store.

Simon Konover Development Corp. and KGI Properties have planned for years to build a residential and retail development on about 200 acres near I-95 exits 73 and 74.

The project stalled during the economic downturn but appears now to be moving forward. The developers recently began clearing land for 280 residential rental units near Exit 73 and will begin construction in earnest in the spring, said Newton Brainard, vice president of Simon Konover.

The residential component calls for 10 buildings, each with 28 market-rate units, interspersed over 38 acres, he said. Construction is expected to take about a year and a half.

"It will be a luxury, multi-family community," said Brainard, with studios, one- and two-bedroom units, a central clubhouse and a resort-style pool. The developers will also improve East Society Road, which will serve as the entrance for the residences, he said.

Meanwhile, planning continues for the commercial phase on a large tract of commercial land in town. The village allows for up to 425,000 square feet of retail space, including one 140,000-square-foot anchor store and up to five smaller "junior anchor" stores. Costco is slated to be the anchor store, Formica told The Day's editorial board last week.

The commercial and residential village has been in the works for more than a decade. The zoning commission approved a master development plan for Gateway five years ago, after previously rezoning a light-industrial and commercial swath of land into the Gateway Planned Development District years earlier, said Zoning Official Bill Mulholland.

The development stalled during the economic downturn. But last year the developers approached the commission and in June received final site plan approval for 275 residential units. Last fall, the commission granted the developers permission to build five additional units.

Formica said the overall development is anticipated to bring in about $1.7 million to $2 million in property taxes.

Formica said he hopes the development will benefit the community and draw more visitors to the town. "We're the gateway to Mystic coast and country," he said. As people travel up the highway and see the commercial development, he added, they might find their way to downtown Niantic, the boardwalk, shops and the village of Flanders.

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Costco To Anchor East Lyme Complex