Two developers with very large apartment complexes planned for Concord properties hope to begin construction this year, despite the tough interest rate environment.

Kevin Lacasse, founder and CEO of New England Family Housing, and Doug Richardson, executive vice president of development at Onyx Partners, told members of the local chamber of commerce their respective developments will hopefully begin construction this year provided city officials approve the projects in time, according to the Concord Monitor.

Lacasse’s company hopes to build around 900 townhomes and apartments on previously-undeveloped land north of the city’s downtown, behind the Monitor’s current headquarters.

Richardson’s company has bought the city’s distressed Steeplegate Mall and plans to demolish significant swaths of it before replacing those sections with around 600 apartments in three buildings.