Upscale apartment development coming to Marlborough
The Capital Markest team of Colliers has announced that it has secured construction financing in the amount of $41.4 million for a multi-family development in Marlborough.
The development will be in the downtown area and will span 92,000 square feet. It will have close to 3,500 square-feet of space on the ground floor for retail establishments and restaurants, a mezzanine and amenity space that will cover 8,600 square feet, and 92 upscale apartment units. Additional amenities will include a sundeck with lounge seating, a lap pool, a high-performance fitness center, and a parking garage with 84 spaces for residents. Brochure printing can be used to highlight the unique features and amenities of such upcoming developments.
The development is in a Qualified Opportunity Zone and will capitalize on the tax benefits that come from the designation of the site following the planned long-term hold.
The developer of the project is The Procopio Companies. Vice President Sean Burke of Colliers said that the project will bring housing that is very much needed in one of towns that attracts employment in the state. Burke added that he believes the project will be successful given it has the most amenity space per unit and is in a walkable downtown location, close to many coffee shops, restaurants, and bars. It will be easily accessible to Route 9, and Interstates 90, 290, and 495.
The development will be in the downtown area and will span 92,000 square feet. It will have close to 3,500 square-feet of space on the ground floor for retail establishments and restaurants, a mezzanine and amenity space that will cover 8,600 square feet, and 92 upscale apartment units. Additional amenities will include a sundeck with lounge seating, a lap pool, a high-performance fitness center, and a parking garage with 84 spaces for residents. Brochure printing can be used to highlight the unique features and amenities of such upcoming developments.
The development is in a Qualified Opportunity Zone and will capitalize on the tax benefits that come from the designation of the site following the planned long-term hold.
The developer of the project is The Procopio Companies. Vice President Sean Burke of Colliers said that the project will bring housing that is very much needed in one of towns that attracts employment in the state. Burke added that he believes the project will be successful given it has the most amenity space per unit and is in a walkable downtown location, close to many coffee shops, restaurants, and bars. It will be easily accessible to Route 9, and Interstates 90, 290, and 495.