An official groundbreaking ceremony was held Nov. 10 to mark the start of work on a new 250-unit market-rate apartment complex to be built in downtown Manchester.

The complex, being developed by Boston-based private equity investment firm Jones Street Investment Partners, will be built on a 2.3-acre site at the corner of Canal and West Auburn streets, near the Market Basket supermarket.

The project — which is located in an Opportunity Zone — will feature a mix of studio, one-, two- and three-bedroom apartments as well as retail space and an underground garage. The location in an Opportunity Zone provides investors with tax benefits, including the ability to defer capital gains taxes.

Construction is expected to be completed in the summer of 2024. A big chunk of the work began in September, and it involves demolition of an older brick building to clear the way for the project. The demolition work is slated to be completed by the end of the month.

Overseeing construction is Callahan Construction. Architect on the project is Market Square Architects.

Jones Street secured a $65.1 million loan from Berkshire Bank to develop the complex. Colliers International arranged the construction loans on for the project.

The project is one of three Jones Street projects underway in northern New England.

The company recently secured a $70 million loan from Key Bank and a $7.9 million preferred equity investment from an investment manager for a 282-unit market-rate multifamily community in Kittery, Maine. And Bangor Savings Bank recently provided Jones Street with a $36 million loan to develop a 181-unit multifamily community in Brunswick, Maine, also located in an Opportunity Zone.

Shown at the groundbreaking for DHL Supply Chain’s 27,000-square-foot expansion of its distribution center in Bow, which houses NH Liquor Commission products for its 67 outlets and 6,700 licensees are, from left: M.S. Walker Sales Manager Annie Kenney; ARCO National Senior Project Manager John Dias; ARCO National Project Manager Cassie Norton; NHLC Chief Marketing Officer Lorrie Piper; Horizon Beverage President Joe LaRocca; NHLC Chairman Joseph Mollica; DHL Supply Chain General Manager Patrick Kerns; NHLC Deputy Commissioner Nicole Brassard-Jordan; DHL Supply Chain General Manager Greg Featherson; Martignetti Companies-Northern New England Executive Vice President D. Dean Williams; Southern Glazer’s Wine and Spirits of New England Vice President and General Manager Ryan DeVecchio; and Pine State Trading Co. Director of Sales and Marketing Joe Ricci.