The Fresh Look team hosted a groundbreaking ceremony on May 24th. at the Laurence Falls development, off Whitney St. in downtown. The site - formerly an over-55, 30-unit development known as Laurence Place - is framed by the Assabet River, with two waterfalls and walking trails along the river's edge. The first units to be completed will be five two-story townhouses, with walk out basements, and two-car garages.
"We are thrilled to be able to get this project restarted. We thank the town of Northborough for helping to make this development a reality," said Peter Burke, Fresh Look partner and principal of B&B Land Corp. "The town was instrumental in helping to lift the over-55 designation on the project."
Framingham Cooperative Bank is financing the project. Plans for additional units will be announced soon.
"This project meets a need in the area. Individuals of varying ages gravitate toward multi-generational developments as a way to stay vibrant and part of a community," said Rob Harrington, Fresh Look partner and principal of Nexum Group, LLC.
Located within walking distance from downtown Northborough, the site is ideal for empty nesters, young professionals, singles or couples looking for deluxe housing that is convenient and worry-free. "The well appointed units will be surrounded by an idyllic, fully landscaped village-like atmosphere to provide the comforts of home with the benefits and maintenance of condo living," Harrington continued.
All Laurence Falls units will be two-stories with walk-out basements, with two car garages and an option to finish the basement. The existing units are in the process of completion right now, and will be ready around September, 2010.
About Fresh Look
Fresh Look is a group of hands-on, experienced real estate professionals from B&B Land Corp and Nexum Group, LLC, with active knowledge of every facet of real estate and banking.
As experts in both finance and development, the Fresh Look team delivers creative solutions to real estate developments in need of a new approach. Fresh Look works with banks and real estate companies within New England, in a hands-on manner. The team also assists lenders nationally on projects that are not within close range. For these projects Fresh Look assists the banks in building the teams they need, and then performs periodic reviews as the program progresses.
In addition, Fresh Look works with lenders to perform due diligence reviews of new potential real estate loans, before they are made . . .providing them with insight from seasoned development professionals.