Massachusetts Governor Charlie Baker, Boston Mayor Martin J. Walsh Celebrate the Grand Opening of Aimco's $195 Million One Canal Apartments

BOSTON, July 13, 2016 -- Governor Charlie Baker and Mayor Martin J. Walsh joined state and city officials, community leaders and representatives of Apartment Investment and Management Company (Aimco) and Trinity Financial, Inc. to welcome the newly developed One Canal Apartment Homes to the Bulfinch Triangle neighborhood at a ribbon-cutting ceremony this morning.

Aimco invested $195 million in the 12-story, 310-unit apartment community developed by Trinity Financial, Inc. One Canal features a range of apartments from studios to three-bedroom homes plus 44 luxury penthouses on the building's top two floors. Upscale amenities include a 2,000 square foot fitness center and an expansive rooftop social deck with a heated pool, fire pit lounge, outdoor theater and 360 degree panoramic views of the City.

"One Canal is the result of a successful public private partnership between the Commonwealth, the City of Boston, and private industry to transfer unused state assets into positive economic growth," said Governor Charlie Baker. "We congratulate Aimco on today's opening and look forward to engaging the community on similar opportunities across the state in the future through our Open for Business initiative."

"One Canal is ideally located in the heart of Boston connecting residents to our financial, cultural, employment and transportation centers," said Mayor Walsh. "I thank Aimco for its vision and investment in our City and Trinity for accomplishing another outstanding development. These partners have met a need for additional housing along the Greenway, created 450 construction jobs and brought vibrancy to the neighborhood. This project is another step towards Boston meeting its ambitious housing goals, and shows how Boston can be an innovative city, grounded in its roots and history."

"The grand opening of One Canal represents a collaborative effort among Aimco and our partners from the public sector, business and labor communities to make this exceptional area of Boston accessible to hundreds of residents who choose to call the Bulfinch Triangle their home," said Aimco Chief Investment Officer John Bezzant. "Within walking distance of the Charles River, Boston Public Market, TD Garden, and the historic North End, One Canal is at the nexus of some of the best destinations in the City. Its location also has an important link to the history of Boston and the Middlesex Canal, which once bisected the site. Through our partnership with the Boston Redevelopment Authority and the Middlesex Canal Association we are pleased to celebrate the heritage of this waterway that helped define Boston in our lobby design and artwork."

"This development was the culmination of many years of thoughtful community input by neighborhood residents, businesses and the visionaries at the State and City who had the foresight to prepare the Bulfinch Parcels for development," said Trinity Vice President of Development Abby Goldenfarb. "Trinity is honored to have had the chance to be a part of such a transformative development and conclude another successful public private partnership with MDOT, the MBTA and the City of Boston."

One Canal also boasts 21,000 square feet of retail space that will house Boston's location for City Winery, a high end culinary and cultural destination which will offer concerts, food and wine classes, fine dining and a trademark selection of wines available to residents and visitors.

Aimco owns and manages 4,700 apartment homes in the Greater Boston market.  The company is one of the country's largest owners and operators of apartments, with 193 communities in 23 states and the District of Columbia.  Its common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500.