A milestone has been reached in The Royle at Darien senior affordable housing development project — the financing is now complete.

The project involves demolition of a complex of six buildings and 30 apartments at 719 Boston Post Road to create a new stand-alone building with 55 units.

The $20 million development recently changed its name from Old Town Hall Homes. It’s being financed through a combination of private and public funds.

According to JHM Financial Group owner and developer Todd McClutchy, while construction of the project began several months ago, “we just recently closed with all of our lenders.”

A recent groundbreaking for the project, attended by about 45 people including Sen. Richard Blumenthal, was held on-site at 719 Boston Post Road.

“The event honored and acknowledged the partners that had to come together for the financing of this development,” McClutchy said.

He added that progress of the construction is proceeding “smoothly.”

“We are approximately 35 percent complete with the overall project,” McClutchy said. “We are now completing the framing of the upper floors and putting on the roof.”

He added that the back section already has a roof.

Construction is expected to be complete by the end of next summer. At that time, there will be a ribbon cutting to welcome the residents and thank everyone for their continued support and hard work “completing this important housing for the Town of Darien,” McClutchy said.

“It looks very good for having the building completely closed in before the real cold weather sets in,” said Housing Authority Chairman Joe Warren. “That means we would be doing interior work during the worst winter weather. That will help to keep us on schedule.”

According to McClutchy, the biggest challenge “is also the most rewarding — it’s working with so many public and private participants to bring this to fruition.”

He added that once the project is complete, “it’s all about welcoming in all the residents — bringing them back in is the biggest goal and most important aspect of getting it done.”

sfox@darientimes.com