MINCO Development Corporation has received a loan of $30.6 million from a partnership between Newburyport Bank and Rockland Trust.
It will go towards the construction of a passive-housing residential development with energy efficiency in mind. The development, to be called Newburyport Crossing, will be at Three Boston Way.
Newburyport Crossing will be one of the few passive multifamily housing projects in the Northeast. This means that it will be certified to deliver over 60% less energy for space conditioning by leveraging highly efficient heating, ventilation, and air conditioning (HVAC) systems and natural light.
There will be an underground parking garage and 84 multifamily units of various types. There will be 12 units with three bedrooms, 24 with two bedrooms, 24 with one bedroom, and 24 studios. The first floor will have live/work units with two bedrooms and space for amenities. Brochure printing is often employed to offer more details about such development and their features and amenities. One quarter of the units will be designated as affordable housing.
Senior Vice President of Commercial Lending at Rockland Trust, Nancy Bailey, expressed her delight that Rockland Trust will be working with President and Founder of Minco Development Corporation, Louis P. Minicucci, Jr., in support of this housing development. Bailey added that the company is honored to be a part of this important work, which is the start of a new trend of carbon-conscious developments.
Location
188 Route One Traffic Circle
Newburyport, MA 01950
Get Directions →
Phone
Hours
Sometimes closing early on long weekends, please check Facebook for up to date changes.
Mon: 8:00 - 5:00
Tue: 8:00 - 5:00
Wed: 8:00 - 5:00
Thu: 8:00 - 5:00
Fri: 8:00 - 4:00
Sat: Closed
Sun: Closed