Dark Horse Capital Partners breaks ground on 42-unit Sphere Luxury Apartments project

September 02, 2016 - Owners Developers & Managers
Shown (from left) are: Peter Miller, founder and partner of Dark Horse Capital Partners, state rep. Paul Donato and mayor Stephanie Burke Shown (from left) are: Peter Miller, founder and partner of Dark Horse Capital Partners, state rep. Paul Donato and mayor Stephanie Burke

Medford, MA Sphere Luxury Apartments (Sphere) is the first major development along the MBTA Green Line Extension (GLX). The groundbreaking ceremony marked the first of many projects that will be built along the extended MBTA GLX.

The new Ball Sq. development is transit oriented and will create a community for people who value walking, biking and public transportation. Sphere is near the soon to be built Ball Sq. T-stop, in Medford/Somerville. Once finished, 85% of people in Somerville will live within a half-mile of a one-seat train ride into Boston.

The Sphere Luxury Apartments project is spearheaded by Dark Horse Capital Partners, LLC, a real estate development and consulting firm focused primarily on sustainable, urban, transit oriented projects. Developed under the administration of Medford mayor Stephanie Burke, Sphere’s design, construction and finance partners include ICON Architecture, NEI General Contracting, Allen & Major Associates, Inc., ST&P Structural Engineers, Wozny Barbar Associates and Berkshire Bank.

“It is extremely exciting to be the first development along the Green Line Extension. Sphere is an example of the economic and community benefit brought about by the public investment of the Green Line Extension. We are thrilled to contribute to the growth of this neighborhood and business district,” said Peter Miller, founder and partner of Dark Horse Capital Partners.

“I am pleased with the design and cooperative process that Dark Horse Capital Partners, LLC has embarked on with the city and the MBTA”, said mayor Burke. “We are excited to see this transit oriented development taking shape and look forward to its opening in spring 2017.”

The GLX will take thousands of cars off the highways—an estimated 50,000 trips per day and will also unlock more than 18 million s/f of potential new development along its stops, including 30,000 new jobs, 10,000 new housing units, and more than $3 billion in projected tax revenue for the Commonwealth by 2040.

Dark Horse Capital Partners worked collaboratively with the MBTA, the State Department of Transportation and the city of Medford to design, permit and build this mixed use development located at 640 Boston Ave., adjacent to the new Ball Sq. subway station. The development will further energize the neighborhood and local commercial district. The total investment of the project is estimated at $12 million.

This complex includes 42 apartments ranging from 620 s/f to over 1,000 s/f. There will be 22 one bedroom and 20 two bedroom apartments. One bedroom apartments start at $2,300 and a two bedroom apartments start at $2,800. There will be four affordable housing units in the building. 

The apartments will be outfitted with stainless steel appliances, custom cabinets, balconies, energy efficient washers and dryers, Common 5th floor lounge with covered deck, First Class Sphere Fitness Center, Sphere Maker Space for collaboration and innovation and many customized details to make living in Sphere a unique experience.

Construction will be complete in the spring of 2017. The Ball Sq. T Station could be open as early as 2019.

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