Owners Developers & Managers
MassDevelopment issues $126.33m to Puddingstone at Chestnut Hill, LLC
Brookline, MA MassDevelopment has issued a $77.9 million tax-exempt bond and a $48.43 million taxable bond on behalf of Puddingstone at Chestnut Hill, LLC, an affiliate of Chestnut Hill Realty Corp., which will use proceeds to build a six-story, 250-unit mixed-income multifamily rental-housing facility on 3.78 acres of undeveloped land at 201 Sherman Rd.
CoreNet Global New England president’s message: Annual Awards of Excellence - by Maureen Rystrom
Our Annual Awards of Excellence took place on April 27th at Westin Seaport, and with 400 in attendance, it was such a fabulous evening celebrating our 2022 Chapter’s Leadership and Project Award Winners, as well as the graduating class of the 2022 Cohort of the Young Leaders Professional Development Program. The evening couldn’t have happened without our wonderful sponsors, including our Premier Sponsor, Margulis Perruzzi Architects.
Project of the Month: NEI General Contracting
completes renovation of 490,000 s/f Rivermark Towers
Cambridge, MA NEI General Contracting, an award-winning general contracting firm, has completed a 490,000 s/f occupied renovation of an affordable housing complex for Homeowners Rehab, Inc. (HRI). Located at 808-812 Memorial Dr., the Rivermark complex contains 89 apartments in a 10-story building, 211 apartments in a 19-story building, 38,000 s/f of commercial space, and five levels of parking.
HealthTech Park to begin development under Ryan Companies and Henrich Partners
Branford, CT HealthTech Park, a 120-acre parcel along I-95, is underway to be an upcoming innovative healthcare hub. The medical and life sciences development is expected to deliver a diverse environment that will cater to the region’s fastest growing life science communities. Ryan Companies US, Inc. and Henrich Partners LLC are codeveloping the project with landowners Belfonti Companies LLC and A. Secondino & Son Inc. community partnerships.
City of Cambridge becomes the first city in New England to work with BlocPower on building decarbonization
Cambridge, MA The city of Cambridge and BlocPower have formed a new pilot partnership to help multifamily buildings upgrade with energy efficiency, rooftop solar, and more comfortable, all-electric heating, cooling, and hot water systems. Supporting buildings in completing such upgrades is an important step in achieving the goals of Cambridge’s Net Zero Action Plan, including the city’s commitment to carbon neutrality by 2050.
The Loop at Mattapan Station and Daily Table grocery store now open
Boston, MA Mayor Michelle Wu, lieutenant governor Kim Driscoll, Preservation of Affordable Housing (POAH), Nuestra Comunidad Development Corp., MassHousing, residents and funders celebrated the grand opening of The Loop at Mattapan Station. The Loop is a new transit-oriented, 135-unit affordable mixed-use housing community in Mattapan Sq.
George and Manny Sarkis of Douglas Elliman sell penthouse at The Parker for $5.368 million
Boston, MA The Parker, a new luxury condo on the edge of Boston Common, sold a penthouse for $5.368 million. This home is one of the priciest sales in the Midtown neighborhood so far this year and was sold by Douglas Elliman’s George and Manny Sarkis. This sale comes as the high end of the city’s luxury real estate market continues to skyrocket.
Ribbon-cutting of renovated commercial building hosted
by City Realty Group at 1515 Hancock Street
Quincy, MA City Realty Group (CRG) hosted a ribbon-cutting and led tours of its renovated commercial building at 1515 Hancock St., in Quincy Center. CRG acquired the 132,000 s/f, class A office building in 2021. Since then, CRG has performed renovations and improvements, including a revitalized lobby with stadium seating and spacious common areas for tenants and visitors. The ribbon-cutting ceremony was attended by mayor Thomas Koch, Quincy Chamber of Commerce president and executive director Tim Cahill, and several building tenants.
Montero joins Affordable Housing and Services Collaborative, Inc.
Newton, MA According to Affordable Housing and Services Collaborative, Inc. (AHSC), a nonprofit organization that owns and develops affordable rental communities, Rosario Montero has joined the company as asset manager. Her responsibilities in this newly-created position include protecting and enhancing the value and cash flow of the properties, monitoring the physical condition of the organization’s portfolio, reviewing and analyzing monthly reports and financial statements, ensuring that lenders and investors receive reports in a timely manner
Different approaches to HVAC maintenance - by Gamble Wiseman
Commercial building owners have several approaches available to maintain their HVAC equipment, which is critical to ensuring the safety, comfort, and health of building occupants. These approaches include reactive maintenance, preventive maintenance, predictive maintenance, and condition-based maintenance.