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Finance
Posted: May 9, 2025
Rockland Trust provides financing to 150 Draper LLC for 40-unit multifamily housing complex
North Attleboro, MA Rockland Trust has provided financing to 150 Draper LLC for the construction of a new 40-unit mixed-income multifamily housing complex at 150 Draper Ave. The newly formed 150 Draper LLC is managed and co-owned by Kevin Lobisser of the Lobisser Companies.
“It’s a pleasure to work alongside Kevin Lobisser again. We’ve had the opportunity to create meaningful developments together over the past few decades,” said Darin Foster, vice president and commercial banking officer at Rockland Trust. “The housing crisis impacts communities across the region. As a community-oriented bank, we’re proud to support the development of this much-needed multifamily affordable complex.”
The four-story complex is being developed under Chapter 40B and will include units designed to meet Americans with Disabilities Act accessibility guidelines. The property will feature 30 market-rate units and ten affordable-rate units offering a variety of floor plans including four studio apartments (one affordable); 20 one-bedroom apartments (five affordable); 12 two-bedroom apartments (three affordable); and four three-bedroom apartments (one affordable).
“It has never been a more important time to have a partner like Rockland Trust to successfully build affordable housing inventory. Darin and the Bank have been with us for over 20 years, and we have developed dozens of successful projects that have all had a positive impact in those communities. We look forward to many more together,” said Kevin Lobisser, President Lobisser Companies.
Construction began earlier this year on the 1.47-acre site. Planned amenities include garage parking with 12 spaces, bike storage, electric vehicle charging stations, a fitness center, community room, dog park, playground, and outdoor grilling area.
Located approximately five miles west of the Attleboro MBTA commuter rail station, the property offers convenient access to Providence (approximately 18 minutes by train) and Boston (around one hour by train), making it an appealing option for residents seeking affordability and connectivity.
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