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SPRINGFIELD — Springfield-based Fontaine Brothers has been named the general contractor for the long-awaited rehab of 31 Elm St. in Court Square into a 74-unit apartment complex.

The announcement was made at a press conference at the site on Wednesday.

Construction work on the $50 million project is expected to begin in the fourth quarter and take roughly two years to complete.

The project represents a partnership between OPAL Development, WinnDevelopment, MGM Springfield, and MassMutual, with funding coming from a variety of sources, including $11.3 million in state and federal historic tax credits.

In addition to the housing units, plans call for retail space and a restaurant on the ground level.

The project is expected to employ 100-120 union construction workers.

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