News
MULTIFAMILY'S NEXT STEP: BUILD
March 28, 2011
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| For the past two years, existing multifamily assets have been the hot investment class and some long-planned, sure-shot new developments are moving ahead. But now, Goulston & Storrs partner Debbie Horwitz tells us some of the trickier new construction projects are looking good. Take the old Faces night club on Rt. 2 in Cambridge. Dark for 20 years, a development plan is finally advancing. Three weeks ago, Criterion Developmentobtained a special permit to build a new 227-apartment rental building on the site that faces the highway on one side and a nature preserve on the other. Also, she says, developers who haven?t built in cities before are lining up deals in Boston, Cambridge, and Somerville. Some are also scouring the 'burbs inside Rt. 128. |
