in the Press
Boston developer plans 171-unit Charlestown rental complex
Boston HeraldBerkeley Investments is going ahead with plans to add more rental housing in Charlestown with a proposal to redevelop two parcels near the Sullivan Square MBTA station for 171 apartments.
The Boston company plans to renovate the existing three-story Graphic Arts Finishers building at 32 Cambridge St. to include 52 loft-style apartments and 2,500 square feet of retail space. A new four-story building with 119 apartments fronting Rutherford Avenue would replace a one-story building at the rear of the site, according to project documents filed with the Boston Redevelopment authority yesterday.
Public meeting on new affordable artist live/work spaces in Somerville Feb. 3
Wicked LocalCity officials will host a public meeting on Wednesday, Feb. 3, from 7 to 8:30 p.m. at the Armory at 191 Highland Ave. to discuss five new affordable rental artist live/work units.
The 5 affordable artist units are included in the 15 total affordable housing units at the forthcoming Millbrook Lofts in Brickbottom. Eight rental units will be restricted to households at or below fifty percent of Area Median Income, and seven rental units will be restricted to households at or below eighty percent of Area Median Income. The affordable units at Millbrook Lofts range in size from one to two bedrooms.
5 Affordable rental units in new Millbrook Lofts to be designated for artists
The Somerville TimesPublic meeting Feb. 3 to discuss artist certification process, application timeline. 15 of the 100 units in the development to be designated affordable. 5 of the 15 affordable units are for certified artists.
The Somerville Arts Council and the Housing Division of the Office of Strategic Planning and Community Development announced this week a public meeting to discuss a first-of-its-kind housing opportunity for Somerville artists. On Wed., Feb. 3, from 7 to 8:30 p.m. at the Armory at 191 Highland Ave., City staff will present information about five (5) affordable rental units for certified artists as artist live/work space.
Millbrook Lofts: Latest Updates
BLDUPCreative living is the name of the game at now-leasing Millbrook Lofts. Built in a former cold storage building, this nearly-complete project features distinctive loft apartments laden with state-of-the-art modern finishes combined with authentic exposed concrete. The Bowdoin Construction and Reynolds Construction Services team is currently putting finishing touches on Millbrook Lofts targeting March 2016 occupancy.
Berkeley Rolls Up Sleeves for $30M Garage Expansion
Commercial Property ExecutiveBerkeley Investments’ plans to expand a parking facility in South Boston were approved by city officials.
Stillings Street Garage, a parking facility situated within the Fort Point Channel Landmark District, will be expanded with two floors of office and retail space since owner Berkeley Investments got the green light for construction from the Boston Redevelopment Authority (BRA).
The existing 241,124-square-foot property, which is located at 22 Boston Wharf Rd., was built in 2000 and consists of six floors of partially enclosed parking with 538 spaces and two upper floors of office space totaling 55,095 square feet.
Berkeley Investments Purchases The Ballardvale Portfolio for $22.2 Million
Berkeley Investments has closed on the $22.2 million acquisition of The Ballardvale Portfolio, a three building portfolio consisting of two flex buildings and one office building totaling 310,000 SF, previously owned by The Blackstone Group. The Properties are located in Wilmington, MA – 16 miles north of Boston and Cambridge, in a well-established commercial cluster ½ mile from I-93 and 4 miles from Route 128.
Berkeley successfully peeled off this local property from Blackstone’s national portfolio and closed on the transaction all cash with bank financing expected to close shortly.
The Portfolio consists of 299 Ballardvale and 301 Ballardvale Street, two single story flex properties that are home to tenants including Hub International and Automated Engineering, Inc. The third property is a two story office property located at 300 Ballardvale Street that recently underwent significant capital improvements to the common areas, including lobby and bathroom upgrades, positioning the property to be highly desirable by the technology and professional services companies in the market.
This fund just spent another $160M on three Fort Point properties
Boston Business JournalThe real estate equity fund that bought Fort Point’s Necco Street parking garage for $56 million in January has returned to the neighborhood, this time shelling out for another two garages and a nearby office property.
Bethesda, Maryland-based NewTower Trust Co. this week closed on $160.25 million worth of Fort Point acquisitions, including two parking garages and an office building owned by Boston-based Berkeley Investments Inc., according to Suffolk County deeds.
Berkeley sheds Worcester towers in $32.5M deal
Boston Business JournalFranklin Realty Partners of Wellesley has paid $32.5 million for two office properties and a parking garage adjacent to the expansive City Square development in Worcester.
The seller was Berkeley Investments Inc. of Boston, which acquired the properties as well as additional nearby parcels for $30 million in 2004, according to public records. This week’s transaction was first reported by the Worcester Telegram & Gazette.
Berkeley Investments Inc.