STAMFORD, CT-Shovels entered the ground Tuesday on Metro Green Residences, the second phase of development on the Metro Green mixed-use project under development by Jonathan Rose Cos. and Malkin Properties. Financing on the $27-million, 50-unit rental apartment building is coming from a mix of tax credits and private lenders.

Construction on phase two is expected to be completed next year, according a release from Rose and Malkin. The overall Metro Green Residential project, which also includes the fully leased Metro Green Apartments, has received LEED-ND Gold certification for neighborhood development from the US Green Building Council.

The residential component is part of a 5.2-acre project near the Metro-North train station here that will also include a 350,000-square-foot, 17-story office tower. Addiitonally, retail and office space will be available on the ground floor of Metro Green Residences, which will contain 40 units priced as affordable housing. Ultimately, Rose plans to build 238 housing units at Metro Green.

“Metro Green Residences will provide a diverse range of affordable and market -rate residential units furthering the goals of the development to create a mixed-income, mixed-use community in a smart-growth location,” says Rose president Jonathan F.P. Rose in a the release. “Within walking distance of a regional train line and vibrant downtown, the development is a model solution to high energy and transportation costs.”

Rose was joined at Tuesday’s groundbreaking by Stamford Mayor Mike Pavia as well as Peter and Tony Malkin, Malkin Properties’ chairman and president, respectively. Malkin Construction will serve as construction manager on the project.

Along with low-income housing tax credits from the Connecticut Housing Finance Authority, financing on Metro Green is coming from the Connecticut Department of Economic and Community Development, the American Recovery and Reinvestment Act, the City of Stamford, JPMorgan Chase and First Sterling Financial.