Beacon Communities and Harborlight Homes, together with their partners, cut the ribbon on 91 new housing units, including 85 affordable units for low-income seniors, at Beverly Village for Living & the Arts, a housing development located at the historic former home of the Briscoe School in Beverly, MA. The adaptive reuse project transformed Briscoe School’s existing footprint into a multi-use, livable space. It includes six live/work studios with an artist occupancy preference.
“Beverly Village for Living & The Arts is a testament to the power of adaptive reuse in addressing the affordable housing crisis,” said Dara Kovel, CEO of Beacon Communities. “We are grateful to Harborlight Homes and our partners for their dedication to preserving the Briscoe School’s history while sustainably transforming it into a vibrant community hub for seniors and the arts.”
The existing three-story building, originally built in 1923, was completely rehabilitated while still preserving historical features, including the windows and facade.
Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...
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JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...
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RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...
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