News: Owners Developers & Managers

Nauset Construction breaks ground on 93-unit Park 77

Cambridge, MA Construction is underway for a multifamily development that will deliver 93 transit-oriented apartment units to the Alewife neighborhood of the city. Located across from the 50-acre Danehy Park recreational facility and within walking distance to Fresh Pond and the Fresh Pond Shopping Center, the project is being built by Nauset Construction for owner Abodez Acorn New Street LLC. The new complex, known as Park 77, will be constructed at the site of the former window and door manufacturing and warehouse facility known as the J &C Adams Company, adjacent to Park 87, the 54-unit apartment complex developed in 2015.

Designed by Piatt Associates, the four-story, 96,000 s/f building will be comprised of a mix of studio, one, two and three-bedroom units, including 14 three-bedroom units designed for families. 

“We’ve had a great experience renting to families at Park 87 and hope to replicate that family-oriented environment with Park 77,” said Phil Terzis of Abodez. “With close proximity to Fresh Pond, the park, the wealth of shopping and dining amenities, and our pet-friendly rental policy, Park 77 can help ease the demand for multifamily rental units sought by young families in Cambridge.” 

The rental market for the entirety of Cambridge currently lists only 250 “pet-friendly” apartments, according to Bostonpetapartments.com. 

In addition to the convenient neighborhood recreational facilities, retail and dining options, the building will offer common area amenities, including a lobby lounge with a see-through gas fireplace, a terrace with built-in gas barbeque, a café with a full kitchen, a multimedia room with surround-sound, a meeting room with built-in audio-visual equipment, a top floor sky lounge with a pool table- and roof deck, a fitness room, and a free dog washing and grooming station. The units will feature a combination of tile and plank flooring, quartz countertops and shaker-style, white finish cabinetry. 

The exterior facade will be a combination of board and batten siding, metal wall shingles, green and gray clapboards and stone veneer. A mix of fixed and turn & tilt windows will supply an abundance of natural light to all units, and select units will include balconies and terraces. 

Construction is anticipated to be completed in the summer of 2019.

Located within walking distance to Alewife Station on the Red Line, Park 77 will include underground parking, electrical charging stations, free auto vacuum and ample bicycle storage. 

Park 77 is one of five multifamily projects that Nauset is currently constructing in Cambridge, as the firm is fast becoming a go-to construction manager for mid-size housing developments in the City, particularly urban infill projects. “Cambridge can be a challenging environment for developers, but it’s all for the good of the City,” said Anthony Papantonis, President of Nauset Construction. “The development process requires a lot of preconstruction planning prior to a construction start, but once you understand the process, it becomes much easier to navigate.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary