Construction on a new senior housing apartment complex in Conneaut Lake borough may start next week.

The closing on the financial deal was completed recently, according to Kelley Coey, project developer for the Hudson Property Management Group that plans to construct the three-story housing complex on the southeast corner of North Fifth and Line streets in the borough.

“It’s a go,” Coey said. “We’re just thankful we’re on our way.” She said construction could start any day but expects it to be early next week.

A groundbreaking ceremony was being planned for the week of June 12, according to Bill Eldridge, a member of Conneaut Lake Borough Council and president of the Conneaut Lake Community Development Committee.

Construction is expected to take about one year. No applications are being accepted yet for renting any of the apartments.

Evans Square is a more than $10 million project. It will be 38,950 square feet with 40 units — 36 with one bedroom and four with two bedrooms — for senior citizens on property previously owned by Alan Moss.

Evans Square is not an official project of the CLCDC. But indications are that the CLCDC revitalization project contributed to the Hudson’s group ability to build the complex and in the approval of the funding for Evans Square.

In a related matter, borough council approved a one-year lease with Hudson to lease a lot owned by the borough near the construction site. The lease will be for $250 a month and will allow Hudson to use the site for parking its construction equipment and for the building crew to use during that time.

Mario DeBlasio, a member of the borough’s sewer and water authority, spoke briefly at borough council’s meeting, noting he has extensive experience in construction and believed the $250 rental fee was too low for the1.87-acre lot to be rented.

Eldridge said the borough would benefit from the project with increased taxes and he didn’t see the purpose of increasing the suggested lease amount. He said Hudson could lease other property in town to use, but it would not be as convenient as the lot near the construction site.

Dick Holabaugh, council president, said he would like to see a fence erected around the lot. Eldridge said he would work on that.

Holabaugh also asked if a contractor for the borough’s revitalization project (expected to start in the fall) would be able to use the site also.

Jeff Millin, borough attorney, said Hudson group wanted an exclusive use lease, but the lease does not provide for Hudson to have exclusive use.

After a short discussion, council voted 5-2 to approve the $250-a-month lease for one year. Council members John Chuey and Mike Krepps voted against the amount to charge for the lease.