CrossHarbor wins construction financing for mixed-use scheme near Boston
Published at: 2017-12-01 15:50 | Author: CIJ USA
Post Road Residential and its joint venture partner CrossHarbor Capital Partners has secured $57.45 million in construction financing for the development of the mixed use project, The Pioneer. Located on the edge of Chelsea and Everett, Mass., the plans call for a six-story podium-style building encompassing 286 apartments, 425 parking spaces and 2,500 square feet of retail. The scheme is in walking distance from the MBTA’s new Silver Line Bus Rapid Transit (BRT), which provides access to Boston’s Seaport District and South Station. Common amenities will include a two-level fitness center, high-definition golf simulator, landscaped courtyard with heated pool and a rooftop lounge. Colliers’ Boston Capital Markets Group has arranged the funding through TD Bank N.A. and People’s United Bank. Delivery of the first units is slated for the Fall of 2018.
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