Fortis secures financing for downtown Boston resi scheme

Fortis secures financing for downtown Boston resi scheme

Published at: 2019-07-30 16:45 | Author: CIJ USA
The Fortis Property Group has landed a $87.5 million loan for the development of a multi-family rental property in downtown Boston. The 21-storey tower will house 1,364 sqf of street level retail. Totaling 169,574 sqf., the building will offer 148 market-rate and 22 affordable apartments. The units will range in size from 450 to 1,200 sqf. Amenities will include a billiards room, a resident’s bar and chef’s kitchen, a screening room and a penthouse level fitness center overlooking the Boston Commons and Boston Harbor. Groundbreaking for the project is scheduled for July 2019 with completion slated for late 2021.

Jonathan Landau, CEO of Fortis Property Group praised the layouts and finishes (by designer Linda Zarifi) of the apartments. "We expect the final product to exceed the standard of multifamily luxury in Boston and help meet the growing demand for residential housing in the city center.”

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