The Rio Grande Update
Project Updates for The Rio Grande Presented to Impact Advisory Group
Earlier this month, the development team behind the proposed Rio Grande Project in Roxbury presented project updates to the Impact Advisory Group. The plans for the 26 story tower include 241 apartments along with 15,500 square feet of retail space and 28,555 square feet of office. The presentation also included the three-pronged financing strategy that will see The AFL/ CIO funding the debt for the residential component while also seeking equity investors and public funding through housing and other tax credits.
The construction, to be handled by Gilbane & Janey Construction Management, is expected to last 26 months once the building permit is received and will be completed in phases to allow for early renovation of existing historic structures.