It will stretch from Elliot Street to 13th Street and Broadway and 12th Streets.
The Model Group acquired the property in 2011, but many of the properties have been under contract since as early as 2007, before it was even known where the casino would be built.
The first phase, already underway, will include 26 one-bedroom apartments and 13 two-bedroom units.
There is also expected to be 11,000 square feet of retail space, with tenants announced in the coming months. Phase two will include almost 40 apartments and is slated to begin in October of this year.