Bridgewater MA Claremont Companies has begun construction of 289 luxury apartment units. The development is situated across from Lake Nippenicket at the intersection of I-495 and Rte. 24. Construction is expected to be completed in mid-2015 with pre-leasing beginning in the spring 2015. The 289-unit luxury community will be known as Axis at Lakeshore.
Situated on 24 acres, Axis at Lakeshore will consist of three 5-story residential elevatored buildings and a single story clubhouse centered around a central green. All amenities are located within the central green including the clubhouse, an outdoor pool, and playground. The resident clubhouse will house the leasing office, community room, theatre room, business center, and fitness center. The majority of the units will have water views of Lake Nippenicket and all will contain luxury finishes and average 1,100 s/f.
The project was permitted under a 40B comprehensive permit with Claremont securing construction financing through Eastern Bank and permanent financing through a participation between Eastern Bank and Mass Housing Partnership. The project was designed by The Architectural Team and the general contractor is Dellbrook Construction. Equity for the project was provided internally by Claremont Cos.
Claremont is a privately owned and closely held real estate investment, development, and management firm. The company was started in 1968 when it began developing residential multi-family properties in Southeastern, Mass.
Throughout the 1970s and 1980s, the company established its core real estate holdings by developing large scale apartment complexes throughout New England.
In the late 1980s and 1990s, the company expanded its real estate development and ownership into different asset classes such as hotels, retail centers, and office buildings. Today, the company focuses on acquiring and developing both multi-family and hospitality assets.