The corner of Bank and Howard streets was a vacant grassy patch of land a few years ago.

Today, the area, known as The Docks, is the site of a 137-unit brand new luxury complex built by A.R. Building Co. The apartments, which opened this month, represent a future promise of an economic recovery.

The complex, formerly owned by the city and known as Parcel J. Construction, will increase the grand list, continuing the trend of lowering the city’s property tax burden. The additional housing units will also give the city an economic boost as the added residents will provide new customers for our local business.

“The city is extremely grateful for both projects and pleased that they will elevate the city of New London by drawing more people to the city and the downtown area,” said New London Mayor Michael Passero.

A.R. Building Co., based in Pennsylvania, has brought more than $150 million in housing in the region. Three of their developments are in New London and one is in nearby Groton. A.R. Building Company has already built a 104-unit apartment complex at 60 Mansfield Road and a 86-unit complex is now under construction on 22 Georgetown Road, which is adjacent to the Mansfield Road building.

The Docks downtown complex, which boasts studios and one- and two-bedroom apartments, is only steps away from the General Dynamics Electric Boat facility, the Thames River, downtown entertainment, and restaurants.

Features of the luxury building include an elevator, communal resident gathering areas, including a fireplace and work areas, as well as a rooftop sun deck with views of the city and Thames River.

Other amenities include chef-designed kitchens with stainless-steel appliances and granite countertops; full-size washers and dryers in every unit; a 24-hour fitness center; a beautiful clubhouse with a wi-fi café; a lounge area, and a recreation/gathering room with a billiards table.

Monthly rents start at $1,110 and go up to $1,910.

A.R. Building Co. is so confident that residents will enjoy the property they give a unique building guarantee. If there’s any misrepresentation while taking possession of the unit, and the renter is not satisfied, they will return the money to the renter.