Oaktree FX delivers $32m smart growth mixed-use Brookside Sq.

Brookside Square - Concord, MA

Concord, MA A ribbon cutting ceremony was held on Oct. 2 to celebrate the opening of Brookside Sq., a transit-oriented, mixed-use development that consists of 74 apartments and 36,000 s/f of first class commercial and office space near the W. Concord Commuter Rail Station. Developed by Oaktree FX, a partnership between Oaktree Development LLC and Patrick Cleary of FX Investments, the project was hailed as a model of smart growth development at last year’s groundbreaking ceremony by former Mass. Housing and Economic Development secretary Greg Bialecki, and former MassDOT secretary Richard Davey.

The ceremony was attended by approximately 75 people, including Mass. state senator Mike Barrett; Gwendolen Noyes, Arthur Klipfel and Patrick Cleary of Oaktree FX Development; John Boynton of The Boynton Company; representatives from WinnResidential, The Architectural Team, and Tocci Building Companies; and other key development personnel as well as residents and town officials from the town of Concord.

Oaktree’s design permit plans featured its “GreenStaxx” system for pre-designed, energy-efficient apartments.  TAT is the architect of record, and Tocci Building Companies was the construction manager. The rental apartments consist of a mix of studio, one and two-bedroom units. Amenities include an underground parking garage, a community room with a gas fire place and Wi-Fi access, a fitness center, and a community deck overlooking Nashoba Brook.  Located near West Concord Village shops and cafes, Brookside Sq.is now 70% pre-leased and residents are beginning the move-in process. The property is managed by WinnResidential. The 36,000 s/f of office space is over 50% pre-leased, pending permits for each individual tenant buildout by the town of Concord. Jack Kerrigan and Bill Sullivan of Avison Young are handling the leasing assignment. 

“We are working with an exciting and diverse mix of business owners who have recognized the advantages that Brookside Square offers for the success of their business and the happiness of their employees,” said Cleary.  “We have found that business owners are looking for more than remote office parks off highway exits can offer. It is truly unique in this regard.”

“We hope that Brookside Square will serve as a model for other developers seeking to create green, transit-oriented, mixed-use developments,” said Noyes. “The complex is right on the rail with easy access to Boston and Cambridge, and is a short walk to shops and restaurants as well as walking and biking trails. Brookside Square is the epitome of the “Live, Work, Play” concept.”

“From the onset, this has been planned with one eye on its carbon footprint,” said state senator Barrett.  “Easy access to public transportation, intersections with an emerging rail trail, walkable distances to local shopping, and the utmost in energy efficient construction – it’s all here.”

“Our Greenstaxx system for pre-designed, energy efficient housing in Smart Growth locations has been wonderfully honed at Brookside,” said Klipfel. “We’re delighted that this project has been so enthusiastically welcomed by both new residents and the community.”

Founded in 1969 as Unihab, Inc., Oaktree Development has evolved into a true pioneer in the world of transit-oriented mixed-use developments custom-fitted into urban sites. For over 40 years, Oaktree has been designing and building residential complexes across the pricing spectrum in close proximity to public transportation. From its beginnings as a design/build company specializing in urban, multifamily housing with a vision of maximizing quality and value by emphasizing good design, Oaktree has developed a highly successful and workable methodology of delivering mixed-use transit oriented projects. GreenStaxx, Oaktree’s patented building technology, was created by the company’s founder, Arthur Klipfel, and the firm is at the forefront of the movement to create sustainable multifamily housing that takes full advantage of the region’s public transportation system.

Patrick Cleary founded FX Investments to target well-located properties appropriate for mixed-use, multifamily and retail acquisition and development. In the short time since its creation, and including his work with Oaktree, FX Investments has taken a lead role in the development and acquisition of over 775,000 s/f of mixed-use, multifamily and commercial properties that have been built, are currently under construction, or are in the entitlement process at this time.