An $11.5 million apartment and retail complex for Akron’s Middlebury neighborhood has received key funding.

The Akron Community Revitalization Fund has provided a $1.6 million low-interest loan to what is called Middlebury Commons, a mixed-use project off East Market Street that is expected to open in the summer of 2019.

Ground was broken Monday, according to the East Akron Neighborhood Development Corp., which will own and operate the property.

Middlebury Commons will feature 40 one- and two-bedroom apartments for people 55 or older. The site at 935 E. Market St. also will have about 14,000 square feet of retail space.

The three-story brick project is on the site of the former Sokol’s furniture business and is near Akron’s Fire Station No. 2.

“Middlebury Commons is a significant part of the strategy to transform Middlebury from an area of disinvestment into a thriving neighborhood on Akron’s east side,” the Development Fund of the Western Reserve said in a news release. The fund oversees the Akron Community Revitalization Fund and falls under the umbrella of the Development Finance Authority.

“We’re very excited about this project,” David Buchanan, chairman of the East Akron Neighborhood Development Corp., said in a prepared statement. “Middlebury Commons will increase the housing and retail services for the neighborhood and, like our Middlebury Marketplace project, will become an anchor for future neighborhood growth.”

The project is receiving other public tax incentives, including abatements , grants and a state tax credit.