WATERTOWN — A local businessman is proceeding with the development of 10 new apartments in two downtown buildings that he owns on Court Street.
Stephen J. Bradley, who owns Abbey Carpets, is investing in the $1.44 million project, which will create five units each in the two buildings at 152-154 Court St. and 168-170 Court St.
The project, first begun in 2018, was delayed by a series of financial issues, according to Mr. Bradley, including trouble with contractors and increased costs of up to 60% due to the COVID-19 pandemic. He also said the cost of the project was “grossly underestimated” when it began.
Mr. Bradley finally put those issues behind him and arranged for all of the financing in November.
“We’re looking forward working and finishing it,” he said.
He hopes that the market-rate, one-bedroom apartments will be ready for occupancy by the end of the year.
Scott Phelps is the general contractor on the project.
The redevelopment of the apartments comes as the city is about to embark on a $3.2 million streetscape project that will change the character of that section of downtown.
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