Foundation work for Chestnut Commons Phase 2 will begin during the first half of January with completion targeted for the end of the summer 2016. Chestnut Phase 1 is still on schedule for occupancy in March.

The Sanchez Advisory Group is investing $10 million into the two-phase mixed-use development.

Chestnut Commons, located at the corner of Chestnut and Virginia streets, will house a variety of technology companies, restaurants and retail space, said Joe Benton, real estate manager for the Sanchez Advisory Group.

Two technology companies have signed leases and will ultimately bring nearly 100 new employees to the downtown area, Benton said. The developer is negotiating leases for the ground floors and other available spaces, and is designing areas for indoor and outdoor restaurant seating.