NASHUA — Two medical buildings, a retail strip and a bank being constructed at the Nashua Technology Park and are expected to be completed early next year.

John J. Flatley Company officials broke ground on the Tara Commons project on Tuesday, which coincides with the construction of Tara Heights, an upscale apartment complex being built in the nearby Gateway Hills community.

The projects are designed to provide an integrated residential and commercial complex within the city, said John Flatley, owner of the Nashua Technology Park.

“This just makes sense. It has come together over the years,” said Flatley. “We are taking a little risk during this economic slow period, but we are building for the future.”

The two medical office buildings will consist of about 15,600-square feet of space, while the retail strip will be about 10,200-square feet and the bank will be close to 4,000-square feet, according to Tom Smith, vice president of John J. Flatley Co.

Smith did not identify the businesses that will occupy the new space.

Tara Commons, which is being built at the entrance to Gateway Hills on Spit Brook Road off Exit 1 of the Everett Turnpike, is expected to be complete in February 2013, said Smith, adding the first phase of Tara Heights should also be available for occupancy early next year.

The first phase consists of 180 luxury apartment units, and the second phase includes an additional 240 units of one- and two-bedroom apartments.

The development will feature amenities such as an outdoor swimming pool, clubhouse, playground, recycling center, garages, maintenance building, new access drive, emergency access road, 300 parking spaces and a recreational area.

“I think we've got a great future here,” said Dick Cane, planning director of the John J. Flatley Co.

Flatley owns more than 400 acres in the Nashua Technology Park, in addition to more than 1 million square feet of research and development space within the park.

“This is 100 percent of my focus right here in Nashua,” explained Flatley, adding he is cautiously optimistic that future expansion will be feasible.

The Nashua Technology Park houses offices for various companies such as Hewlett-Packard, Dell, Intel and Benchmark Electronics.

“I think this is incredible,” said Chris Williams of the Greater Nashua Chamber of Commerce.

- - - - - - - -