Commonwater intends to develop a 195-unit multifamily project on 16.4 acres of land located at 375 Drozdyk Drive in Groton, Connecticut. Immediately adjacent to the site, the Ledges Apartments is a 339-unit, fully stabilized multifamily community which was completed in 2005 by our intended GC and is managed by our intended property manager. The Project is being built to respond to the increasing market demand which will continue to be facilitated on the expansion of General Dynamics’ operations at its Electric Boat facility, which is expected to add over 8,500 manufacturing and government contract jobs by 2031. This development is projected to have a high market penetration, realistically leasing up to 30-35 units per month. The site is located 1.5 miles from I-95, 2 miles from Groton’s 240-acre family park & reservoir, and just 2.5 miles from General Dynamics’ Electric Boat Facility and Pfizer Biopharmaceuticals' headquarters.