According to MEGRYCO Inc. and Coldwell Banker Residential Brokerage in New England, 75% of the homes at Residences @ The Armory, a development of 20 luxury condominiums, have been placed under agreement. Construction of Residences @ The Armory, located at 76 Court St., is expected to be complete this month.
The development incorporates a mix of 20 one and two-bedroom units with high-end finishes and unique layouts ranging in size from 900 to 1,885 s/f. Developed by MEGRYCO Inc., Residences @ The Armory involved the redevelopment of a historic landmark building in downtown. The condominiums are exclusively marketed by Lynne Morey, a top-producing sales associate affiliated with the Coldwell Banker Residential Brokerage.
"The success of this redevelopment is a testament to the town's commitment to downtown living and our vision and attention to detail," said Rick Vayo, president of MEGRYCO. "When we embarked on this project, we were very confident that we would witness a strong demand for these residences because they are located in an incredibly desirable location that offers access to the waterfront and all of the conveniences of downtown living. We are very pleased with the progress of this project and how well received it has been in the community."
Of the 20 units, 15 have already been reserved by buyers and will close in July. The homes feature ceramic and hardwood flooring, deluxe kitchens with semi-custom cabinetry, high-end appliances and granite countertops, and bathrooms with custom-tiled showers with frameless glass doors and custom-designed wood vanities.
The eco-friendly condominium development incorporates sustainable materials, products and design strategies, including drought-tolerant plantings and landscaping.
Nearly all of the building's existing brick and timber structure was restored and reused, and energy-efficient windows and lighting are used throughout. A new storm-water retention system beneath the parking lot, along with roof drains on the building, help to minimize surface runoff into Plymouth storm drains.
"Partnering with Rick and his team at MEGRYCO to bring this community to Plymouth has been very rewarding. From the very beginning, local residents and community members have been very enthusiastic about the redevelopment of this former Armory building. It is refreshing to see a downtown building that had been vacant for so long come to life again," said Morey.
Prices for the homes range from $275,000 to $559,000.
Constructed in 1906, The Armory has been a local landmark for over a century. The Armory was an active barracks and training facility for the Armed Services for decades. It later housed the Plymouth County Juvenile Court Division, but in more recent years was vacant and unused.
MEGRYCO, Inc. is a Plymouth-based multi-generation family business that has been serving the real estate needs of the southern New England community for over two decades. The company has developed and manages complexes ranging from single- and multi-family residential structures to over 50,000 s/f multi-tenant commercial facilities.
President Rick Vayo has over three decades of experience in residential and commercial real estate development and construction. During his extensive career, Vayo has developed for the sale, lease and build-to-suit of over 500,000 s/f of commercial and retail space. In addition, his residential development and construction resume includes the construction, renovation and management of several hundred units and single-family dwellings.