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| Martha Nay |
BOSTON, MA – JLL Capital Markets announced it has arranged a $6 million construction loan for the development of 80 Terrace Street, a nine-unit, boutique, for-sale condominium building in the Mission Hill neighborhood of Boston.
JLL worked on behalf of the developer, Primary Development, to secure the floating-rate construction loan through Centreville Bank.
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| Michael Johnson |
80 Terrace Street will feature 21,000 gross square feet, including nine two-bedroom/two-bathroom for-sale condominium units, one commercial unit and nine parking spaces.
The Mission Hill area is a rapidly developing area of the Boston Metro catering to high-earning professionals located within walking distance to the Longwood Medical area and an 18-minute commute into downtown Boston.
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| Craig Schermerhorn |
The project, which is due for completion in the first quarter of 2021, will feature distinctive architecture with plentiful windows and energy-saving finishes.
The property will include a secured parking garage with all spaces equipped with electric car charging ports. Units will feature 10-foot ceilings throughout, high-quality casement windows, premium appliances and finishes, elevator access and a shared roof deck with a green roof.
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| 80 Terrace Street rendering, Boston, MA |
The commercial component can be divided into six office studios connected to a common kitchenette area.
The JLL Capital Markets team representing the borrower was led by Directors Martha Nay and Michael Johnson. Vice President of Commercial Lending Craig Schermerhorn represented Centreville Bank.
Contact:
Olivia Hennessey
JLL Senior Associate, Public Relations
Phone: +1 713 852 3403
centrevillebank.com or call 401.821.9100.
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