Real estate investment and development firm The Federated Cos. has purchased a 12-acre development site in Wilmington, slated to be the future home of Legacy Park Apartments.

The project is a Chapter 40B mixed-income rental community which will consist of two, three-story garden buildings containing 108 total units and an enclosed 35-space parking garage (194 total parking spaces on site). Approximately 28 percent of the units will be designated affordable, and the remainder will be market rate, the company said.

The floor plans for the property’s garden-style units are a mix of one-, two-, and three-bedroom layouts, and range in size from 786 to 1,698 square feet. The property will feature amenities including a fitness center, library/community room, granite countertops, and in-unit washers and dryers. The Federated Cos. will be the project’s general contractor, and demolition on the existing industrial building is slated to begin next week with construction starting in spring of 2012. Pre-leasing is expected to begin in the first quarter of 2013.

"The Federated Companies is excited about Legacy Park Wilmington," said Nick Wexler, chief operating officer of The Federated Cos. "The project is located in a suburban market with excellent demographics and the site is immediately adjacent to the Wilmington commuter rail station. The town offers a high quality of life in a quaint suburban setting, is less than 15 miles from Downtown Boston and minutes from the Route 128 technology corridor."