Milford Bank, new apartments to be completed in the spring

MILFORD — A new mixed-use development will bring a brand-new Milford Bank location and 12 apartments to Roses Mill Road when it is completed in the coming months.

"The former building had been a vacant eyesore since the early 2000s," said David Hashemi, project operations manager for the development. "We are very excited that the town of Milford's Planning and Zoning Department has granted us the opportunity to bring this vision to fruition."

The Planning and Zoning Commission approved the project proposed by developer 51 Roses Mill, LLC. in May 2021. The project is an expansion of a mixed-use building that was demolished after a fire. The property is located near the intersection with the Boston Post Road.

The apartments are on the second and third floors, with each floor containing six one-bedroom dwellings. It also features 12 parking spaces for those apartments and 12 storage rooms for each apartment on the basement level.

"Apartments have always been part of this property from its initial building in the 1990s," Hashemi said. "The increased number in the apartments was our doing due to the increased demand for housing in our area."

According to Hashemi, the new development is projected to be completed by the spring. "The project was awaiting approval of financing, approval from the building department, and the bidding process," he said.

Hashemi said they had been interested in the property and its potential, and once it was up for sale in 2020, they decided to purchase the property. 

"What also interested us in the location was its proximity to Route 1, Route 15, and I-95," he said. "As well as the Boston Post mall, the surrounding businesses and residential areas."

When 51 Roses Mill bought the property in 2020, they decided to keep the building zoned mixed-use and reached out to the Milford Bank as a potential tenant.

"The Milford Bank was at the top of our list to get as an anchor tenant for this project due to their reputation as a long-standing community business in Milford," said Hashemi.

The bank will occupy the first floor of the building and will include a drive-up ATM machine with a 10-car queue.

According to President and CEO Susan L. Shields, The Milford Bank planned to close its Post Road East Office, located at 1455 Boston Post Road, this month, and will be relocating the office to 51 Roses Mill Road on or around March 1.