A new upscale apartment development meant to appeal to young professionals and empty nesters broke ground June 26 at the in Newport.

The $10 million Monmouth Row is being developed by Towne Properties and Carlisle Enterprises on land owned by Wayne Carlisle, a Newport native who has been investing in the city since the late 1990s.

The three-story, 102-unit development will contain one- and two-bedroom units, with prices starting at $875 a month. Community amenities will include courtyard parking, a fitness center, and an outdoor terrace.

A 2,500-square-foot retail space will hold the street corner.

The project, which is Towne Properties' first development in the Newport, is scheduled for completion in mid-2014.