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National Development closes on 156-unit Marlborough apartment complex

On August 22nd, National Development closed on the purchase of Avalon Orchards in Marlborough, MA.  Built in 2002, the 156-unit apartment complex, which will be renamed Orchard Apartments, is located on nearly 23-acres on Boston Post Road.

Orchard Apartments consists of twelve, two- and three-story residential buildings, four detached garage structures containing 22 garage bays and a separate, recently renovated, New England-style amenity and leasing clubhouse with fitness center and pool.  All apartments are direct entry homes, and second floor homes offer vaulted ceilings and an additional loft space. There are 69 one-bedroom units and 87 two-bedroom units.

National Development will begin updates to the property, beginning with phased unit renovations and select improvements to landscaping and amenity areas.

Andrew Gallinaro named Partner

Andrew Gallinaro has been promoted to Partner, Director of Asset Management.  Andrew joined National Development in 2010 as part of its acquisitions team and, in 2016, became Senior Vice President, Director of Asset and Property Management.  Managing a team of nearly 100 employees overseeing over 9 million square feet of assets and 2,400 apartment units, Andrew has been a key contributor to the firm’s continued growth.  As a partner, Andrew will continue in his current roles and will join National Development’s Executive Committee.  Before joining National Development, Andrew worked in the Real Estate Private Equity Group at BlackRock.

National Development and Charles River Realty Investors honored by United Way of Mass Bay

At the 26th annual Real Estate Leadership Breakfast on November 2nd, The United Way of Massachusetts Bay and Merrimack Valley honored National Development and Charles River Realty Investors with their annual Norman B. Leventhal / Edwin N. Sidman Real Estate and Building Industry Leadership Award. The award is a tribute to a firm’s professional and philanthropic impact on the Greater Boston community. The award was presented to National Development/Charles River by David Manfredi of Elkus Manfredi Architects. Watch the ND Community video here

Ink Block makes mark at former Herald HQ

February 17, 2015, Boston Herald — The Ink Block is the transformation of the 24-acre former Boston Herald building in the South End into a destination residential area, and now the first two apartment buildings in the complex have opened.

They join a 50,000-square-foot Whole Foods Market that had its debut last month, in a four-building complex that will have 315 apartments, 83 condos, cafes and restaurants. A second phase will include an adjacent boutique AC Hotel by Marriott as well as a sixth building with more residential units.

“We’re trying to create a community here that fits in with the rest of the South End, but has a design edge that reflects the area’s history, food, art and music,” said Ted Tye, managing partner of Newton’s Nation­al Development.

Each of the three Ink Block apartment buildings is designed to appeal to different renter demographics. The Euro-styled 1 Ink features a glass exterior with bump-outs and floor-to-ceiling windows, and its apartments have a sleek and sophisticated vibe. The metal and precast stone-clad 2 Ink has hip, more industrial-looking interiors geared toward millennial renters. 3 Ink, which opens next month, goes with a more traditional Boston look, with its brick exterior and warmer interiors with wood cabinets.

Rents in the three buildings range from $2,529 to $2,804 for studios, $3,234 to $4,304 for one bedrooms, $4,104 to $4,704 for two bedrooms and $5,404-$5,804 for three bedrooms. Garage parking costs $325 a month.

The connected 1 Ink and 2 Ink share a lobby with a 24/7 concierge, as well as lounge areas with Wi-Fi, a projection TV and workspace. The funky decor is inspired by the site’s news printing history, with wall coverings fashioned from thin strips of newspaper, pixelated wall displays and Ben-Day dot stenciling. Herald publisher Patrick J. Purcell has a minority interest in the Ink Block project.

We took a look at 1 Ink model Unit 411, a 753-square-foot one bedroom that’s renting for $3,800 a month. The stylish kitchen features white quartz countertops and white Thermofoil finished cabinets, along with stainless-steel GE appliances and a quartz-topped island that seats three.

The open dining/living area has a built-in desk and floor-to-ceiling windows with panoramic city views, as does the carpeted bedroom. The bathroom has porcelain tile floors and a white-tiled shower and there’s a closet that holds a stacked Bosch washer and dryer.

Stenciled door numbers, jelly-jar lights and pop art in the hallways give 2 Ink a funky vibe. Unit 432, a 591-square-foot studio at 2 Ink, rents for $2,529 and has a divider between the living room and bedroom. The kitchen has black granite counters and mostly black cabinets with white subway tile backsplash. This unit also has a tile bath and washer/dryer, plus a large bedroom closet and additional storage space.

Property manager Jessica Ryan says lot of young professionals are renting the 315 Ink Block apartments, which are 25 percent leased. The complex is offering one month of free rent and a “look and lease” promotion that gives an additional $1,500 off if a lease is signed within 24 hours of touring an apartment.

“People renting Ink Block are looking for a lifestyle, not just a well-designed apartment,” Ryan said. “It’s literally one-stop shopping here.”

Dana-Farber moves into 155,000 sf at Longwood Center

January 22, 2015 – Dana-Farber Cancer Institute is expanding its research footprint, occupying portions of five floors at Longwood Center, 360 Longwood Avenue, beginning later this month.

The new facility will be home to Dana-Farber’s chemical biology, structural biology and proteomics programs, as well as the Belfer Institute for Applied Cancer Science. A significant portion of Dana-Farber’s basic discovery research will be conducted there, as will a large component of the Experimental Therapeutics program with a focus on translational research in lung cancer.

The laboratories in Longwood Center were specifically designed with open spaces and are organized by neighborhoods to foster collaboration, creativity and productivity while optimizing natural light and views and operational efficiency.

“Longwood Center provides Dana-Farber with an unprecedented opportunity to reorganize our campus to accelerate the application of basic discovery and translational science into treatments that can improve the lives of cancer patients and families,” said Barrett Rollins, MD, PhD, chief scientific officer at Dana-Farber. “We will use this space to expand our chemical biology programs, which are the cornerstone of our new cancer therapeutics initiatives.”

Dana-Farber is the major tenant in Longwood Center, occupying 155,000 square feet with a 15-year lease including an option to renew. The building is owned jointly by Clarion, Alexandria and National Development.

2014 REFA Fall Conference

Event Date: Friday, September 5, 2014
Westin Hotel, 70 Third Avenue, Waltham, MA
7:30-8:15am Breakfast and Networking
8:00-10:00am Keynote and Panel Program

Join our panel of industry leaders for an in-depth discussion on the latest trends in the dynamic Boston Suburban Market. Hans Nordby will provide an overview and insight into the market dynamics. Our panel of some of the most active players in the suburban markets will discuss overall market influences, development projects and the current financing environment.

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