$1.3M In Affordable Housing Financing Finalized for 28 Austin St. in Newton
MassHousing has closed on $1.3 million in affordable workforce housing financing to Austin Street Partners LLC, for the new, 68-unit 28 Austin Street in Newton, which offers 23 workforce housing apartments for lower- and moderate-income households. The building features 33 one-bedroom apartments and 35 two-bedroom apartments along with a 90 space parking garage and amenities including a fitness center, and resident lounge.
"MassHousing was pleased to be a partner with the development team and the City of Newton in this transformative project that turned a city parking lot into a new community with 68 units of mixed-income rental housing with retail and public space," said MassHousing Executive Director Chrystal Kornegay. "We applaud the City of Newton’s commitment to housing the Commonwealth’s workforce and congratulate Dinosaur Capital Partners and Oaktree Development on a job well done."
West Roxbury Multifamily Acquired for $41M
Oak Row, along VFW Parkway in West Roxbury, has been acquired by National Development for $41,761,800. The 80 unit multi-family was constructed in 2018. The property features a mix of one, two, and three bedrooms along with amenity space including a fitness center and resident clubroom.
Construction Wrapping Up at Gables Seaport: Units Now Leasing
With pre-leasing now underway, construction is wrapping up at Gables Seaport. The 307 unit luxury building offers units ranging in size from 467 square foot studios through 1291 square foot 2 bed/2baths. Amenities will include a 10,000+ square foot 3rd-floor outdoor amenity deck, pool, expansive lounge with co-working areas, and fully-equipped fitness center. First units are expected to open this spring.
Interior Finishing Ongoing at The Archer Residences in Beacon Hill
Construction at the luxury Archer Residences in Beacon Hill continues with interior finishes going in and the exterior work nearly complete. The development will include 62 residences, a fitness center, a children's room, and other high-end amenities.
CO Issued for 45 on Burnett
A certificate of occupancy has been issued for 45 on Burnett in Jamaica Plain. The new 4-story condo project features 44 luxury homes just minutes from Forest Hills. Units range in size from 1 through 3 bedrooms. There is also parking for 36 cars on site.
Beacon Hill Development Refinanced for $150 Million
The Archer Residences in Beacon Hill has been refinanced for $150 million via Apollo Global.
The development features an exclusive luxury condominium development boasting 62 residences. The Archer Residences will restore two existing historic buildings and construct a new penthouse level. Amenities at The Archer Residences will include concierge service, a fitness center, a children's room, and a common roof deck. An underground parking garage will be built underneath the buildings containing 54 parking spaces. The Archer Residences will be located across from the Massachusetts State House, steps from Boston's Financial District and the Back Bay.
Radius Apartments Refinanced for $42 Million
The Radius Apartments have been refinanced via Peoples United Bank for $42 million.
The Radius Apartments are a new mixed-use development that opened in Spring 2019 featuring 132 apartment residences and 5,000 square feet of ground-floor retail. Residences at Radius includes 53 studios, 43 1-bedrooms, 16 1-bedroom + dens, and 20 2-bedrooms. Resident amenities include a rooftop common room, fitness center, and an outdoor deck.
Gables Residential On Track to Deliver Superior Residential Experience in Spring 2020
Gables Residential, a leader in multifamily development and management, announced today that the highly anticipated apartment community, Gables Seaport, located on 501 Congress Street, will open in Spring 2020. In conjunction with Drew Company, Gables Residential is bringing a 23-story, 307 apartment home building in South Boston’s Seaport District, an area that has been transformed over the last few years into a bustling waterfront destination with new dining, shopping, and cultural amenities.
Apart from the highly desirable location, the building will be distinguished by exquisite amenities and meticulously designed spaces. Residents will indulge in some of the most exquisite features in the area including a terrace designed to be an oasis in the city, complete with swimming pool and an outdoor lounge. Views will be enjoyed by many, and when residents need to travel, they can conveniently do so as the MBTA’s Silver Line is mere steps away.
“Seaport offers many of the qualities we seek in a development opportunity, including an irreplaceable site close to transit, employers, retail and entertainment”, said Joe Shea, Director of Development for Gables Residential. “Drew Company’s history in Seaport has been a great resource, and we look forward to future ventures with them.” Gables Seaport marks the first partnership between Gables and Drew Company in Boston.
“Our focus is on developing communities that offer a variety of amenities and to enhance our residents’ quality of life. In Boston, that lifestyle embraces a vibrant walkable neighborhood with the appeal of a lively urban atmosphere, with access to public transportation. Designed with ‘best in class’ finishes, the studio, one, and two-bedroom units are ideal for someone looking to take full advantage of the Seaport lifestyle,” said Jorgen Punda, Regional Vice President Investments at Gables Residential.
Gables Residential emphasizes sustainability in all of its projects and Gables Seaport is no exception. The building has a number of sustainable elements designed for efficiency including a green roof system that will guide rainfall toward plantings and soil, greatly reducing runoff. The building will be certified, LEED Silver.
Gables is working with CBT Architects on the building design, and Halvorson Design on the roof deck and amenity spaces.
Permit Pulled for Fire Alarm Install at 45 on Burnett
A permit has been pulled for fire alarm install at 45 on Burnett in Jamaica Plain. The project features 44 luxury condos ranging in size from 1 through 3 bedrooms. The homes feature European style kitchens, Bosch and Thermador appliances, Italian marble baths. The building will also offer a state-of-the-art onsite gym and dog spa.
Oaktree, Dinosaur Capital Complete Newton Mixed-Use Development
Austin Street Partners, a joint venture between Oaktree Development, an award-winning developer of transit-oriented, mixed-use, multifamily developments, and Dinosaur Capital Partners, a Boston-based real estate developer, and investor, has completed 28 Austin, a mixed-use development that transforms a time-worn municipal parking lot into 68 apartments and 5,000 square feet of retail. Located in the village of Newtonville, 28 Austin is Newton’s first new multi-family housing north of Route 9 in more than a decade and was created via a unique private-public partnership between the City of Newton and Austin Street Partners that designates 23 of the apartments as affordable.
“28 Austin provides much-needed housing options for the region’s thriving workforce as well as for residents wanting to remain in Newton as they downsize from their single-family homes,” said Gwendolen Noyes, COO of GreenStaxx and partner at Oaktree Development. 28 Austin is located directly across from Star Market and within easy walking distance to a host of village shops, service-oriented businesses, and over a dozen restaurants. The commuter rail is located just two blocks away and there is easy access to MBTA bus transportation, including express-bus routes to Downtown Boston.
Designed by Stantec and constructed by NEI General Contracting, 28 Austin was built using GreenStaxx modular building technology, a patented design system designed by Oaktree principal Arthur Klipfel, which uses pre-designed and pre-engineered units that can be assembled like Lego blocks to fit any site. In addition to the apartments and retail space, there are 90 underground parking spaces for residents as well as 123 surface level public parking spaces. A new public plaza and playground improve the former municipal parking lot. A rooftop solar array provides over fifty percent of the building’s electrical needs, and 28 Austin is LEED certifiable, utilizing efficient heating and ventilation systems, fixtures and lighting.
The fully accessible apartments feature 9’ ceilings, oversized high-efficiency windows, and modern kitchens with Energy Star appliances, including Fisher & Paykel refrigerators, Bosch dishwashers and washer/dryers, double bathroom vanities, and luxury plank floors. Resident amenities include a hotel-like lobby with a secure package room, resident fitness room with state of the art LifeFitness exercise equipment, a guest suite, a dog park, and a resident lounge featuring a living room, dining room, library, meeting space, and sky deck with fire pit and pergola.
Residents began moving in in September, and retailers Henry Bear’s Park, a toy store, will open for Christmas and Caffé Nero, the bakery and café, will open in early 2020. The residential portion of 28 Austin is professionally managed and leased by the Nordblom Company, and Avison Young is the exclusive leasing agent for the retail space.
At the grand opening ceremony held in late October, Scott Oran, principal of developer Austin Street Partners, thanked the broad array of Newton civic organizations and residents for their support over the many years it took to bring the project to fruition. “Thank you for showing up, repeatedly and with conviction, for years and years in many cases, to make this building a reality,” said Oran. “If it takes a village to raise a child, it surely took a city to raise this building.”
Luxury Interior Finish Install Underway at The Archer Residences in Beacon Hill
The interiors of the 62 luxury condo residences at The Archer are starting to take shape with finish work underway. No detail will be left unaccounted for during this renovation of the two historic Beacon Hill buildings that comprise the project. Elegant finishes will include 5” rift oak flooring, crown molding and gas fireplaces in the expansive and open living areas. Spacious and bright bathrooms will feature natural stone tile, copper Waterworks fixtures, and waterfall showerheads. Along with beautiful finishes, The Archer will offer residents the convenience of a full-service, fully amenitized building, a rarity in Beacon Hill. From 24-hour concierge service to valet parking, The Archer brings full-service living to Beacon Hill.
The Residences at The Archer are expected to be completed next year with the sales gallery now open. For more information about The Archer, contact The Caulfield Properties Team at 857.305.3148 or via email at firstname.lastname@example.org.
Interior Finishing Ongoing for Gables Seaport
Interior finish work is ongoing for the 307 luxury apartments at Gables Seaport along Congress Street directly next to the Silver Line MBTA Station. Gables Seaport will feature a mix of studios through 3 bedrooms and offer residents 24-hour concierge service, a clubroom and outdoor lounge, fitness center, and resort-inspired pool. As the building sits so close to the silver line, only 84 parking spaces are included on-site.