OLD LYME — The former housing complex for Lyme Academy of Fine Arts has been renamed Southwick Commons and the renovated townhouses are for rent. The two buildings at 77 Lyme St., just off the historic district in Old Lyme, include 12 two-bedroom townhouses under renovation or recently completed.
Rick Weiner, the listing agent with William Pitt Sotheby’s International Realty, said the rents range from $1,850 to $2,150 per month, which does not include utilities. The units have either two or two and a half bathrooms and one garage space. According to Weiner, the units are renting quickly, with six left on Thursday.
Gary Eucalitto, managing partner of the project, said that retirees and professionals mostly in the age 40-and-up group are leasing the units.
“People have sold their houses and are going to buy a place down south and want to rent for a while,” he said. “We have project managers on jobs here temporarily for a year to three years, engineers, nurses — and retirees, a lot of response from retirees.”
The townhouses were built in 2013 for use as housing for full-time students at Lyme Academy of Fine Arts, which closed its doors to degree-seeking students in August 2019 after University of New Haven disaffiliated from the school.
Eucalitto confirmed that the project received $2.4 million for renovations and permanent financing from Washington Trust’s Commercial Real Estate Group under the name Lyme Academy Apartments LLC.
Under the terms of the land condominium where the townhouses are located, the owner could build 12 more units, which Eucalitto said was a possibility.
“We haven’t brought anything yet. I intend to look at that and will discuss it with the town. It would probably be the same type of units,” he said. “I think we would love to do it if we can provide [housing] for retirees.”
You can find out more about the project here.