
Wakefield, MA Neil Denenberg, president of Denenberg Realty Advisors, attended the ground-breaking ceremony for The Basin Development located on a 24-acre site at 200 Quannapowitt Pkwy.
Denenberg Realty Advisors, represented both the seller, Waterstone Wakefield, LLC, and procured the buyers Cabot, Cabot & Forbes and Equity Residential. Both parties worked closely to put this deal together.
Denenberg said, “It was a thrill to attend the ground-breaking ceremony and see the development under construction. This project took over two years to get started. Town and state officials, the Friends of Lake Quannapowitt, Cabot, Cabot & Forbes/Equity Residential, Callahan Construction as well as residents all attended the ceremony.”
The buyers Cabot, Cabot & Forbes and Equity Residential have begun the building of this lakefront 440-unit multi-family community development. The project sits at the northern end of Lake Quannapowitt, a regional outdoor destination offering visitors a lake setting where many enjoy walking, jogging, and biking. A 3.5-mile paved loop encircling the 250-acre lake provides a natural amenity base for residents to enjoy outdoor activities.
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and