Pennrose has broken ground on 95 Everett St., an 88-unit, transit-oriented, mixed-income housing development in the Allston-Brighton neighborhood of Boston. When complete in 2027, the project will deliver 100% income- and rent-restricted homes to one of the city’s fastest-changing neighborhoods.
95 Everett St. will offer a mix of studio, one-, two-, and three-bedroom apartments. Of the total 88 units, 73 are LIHTC-eligible affordable apartments, including 18 units reserved for households earning at or below 30% of the Area Median Income (AMI). The remaining units will serve middle-income households. The building will follow Universal Design principles for inclusivity and be built to Passive House sustainability standards.
“95 Everett Street is an opportunity to bring high-quality, affordable housing to a neighborhood that is experiencing significant housing cost pressure,” said Karmen Cheung, regional vice president at Pennrose. “Allston-Brighton’s transit access, employment opportunities, and community assets make it an ideal location for working families and individuals.”
Rendering courtesy of DiMella Shaffer.
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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