Hard hat leasing tours have begun for the first homes at John M. Corcoran and Company’s (JMC) The Devon at Weiss Farm, a 259-unit multifamily project located on 25 acres in Stoneham, MA. The first phase includes 12 townhomes, a 5,000-square-foot clubhouse and the first rental building with 64 apartments and move-ins beginning in mid-August.
Formerly housing the dairy farm operations of Ann and Phil Weiss, the Weiss Farm site is just 10 miles from Boston, one mile from Downtown Stoneham and one mile from the Melrose Highlands Commuter Rail Station. “This property blends convenience and access with premium finishes and amenities and tranquility provided through significant preserved open space,” said Peter Mahoney of JMC.
Among the most prolific multifamily developers in the Boston region, JMC recently took over management of Zen Easton, a 100-unit complex in South Easton, MA that has been rebranded as The Edgestead.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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