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National Development combines with Charles River upon close of $400M funding round

Charles River Realty Investors announced that it has closed its $400 million Fund 4.  In conjunction with the closing of the fund, the firm announced that it was combining with National Development to form a seamless, vertically-integrated real estate investment, development, construction and operating company.

Since Charles River’s formation in 2006 as the investment management platform of National Development, the firms have committed over $4 billion in real estate investments, with a primary focus on creating value through urban and mixed-use development, redevelopment and renovation/repositioning, and produced top-tier returns for its investors.

The combined firm will be known as National Development, with Brian Kavoogian becoming a Managing Partner and a member of the firm’s Executive Committee.  He will continue to have a primary focus on the firm’s new investment activity.  Going forward, National Development plans no changes in its approach and strategy, with a focus on creating great places and providing its investors with attractive risk adjusted returns.

“Combining the firms is a natural extension of our long-term relationship and synergies,” said Kavoogian.  “This will strengthen our platform and will be seamless for our investors and partners.”

BBJ calls out Ink Block as “shining example” of placemaking and live-work-play mixed-use development

Developers see a ‘perfect opportunity’ in Boston’s South End 

By Catherine Carlock
– Real Estate Editor, Boston Business Journal

Sep 27, 2019, 5:00am EDT

There’s no local development more often cited as an example of the real estate concept of “placemaking” than Ink Block in Boston’s South End. The six-building complex that opened about five years ago and was built by National Development, features residences, an AC Hotel by Marriott, a Whole Foods grocery store, among other things, and is often held up as a shining example of the “live-work-play” mixed-use development archetype around which developers — and development financing — are clamoring.

Ink Block stands a stone’s throw from Boston’s I-90/I-93 interchange, a site long been considered difficult, if not impossible, to develop. In many ways, Ink Block is considered a catalyst for new development in a rapidly changing, and gentrifying, neighborhood — one that’s seen an infusion of luxury housing and is set to see even more in the coming years. Projects including 345 Harrison — a 585-unit residential project spanning full city block complete with rooftop pool — have recently wrapped up, while more than 700 are currently under construction.

Much of the construction was prompted by a 2012 study published by city planning staffers, called the Harrison-Albany Corridor Strategic Plan, said David Chattman, vice president with Related Beal in Boston. The plan — and its subsequent rezoning — prompted a wave of investment and development, Chattman said.

“We really see it as kind of the perfect opportunity, and I think we’re not alone in that,” Chattman said. “You get the authenticity and the cultural diversity of the South End, but kind of in this corridor, that sits at the nexus of so much.”

Underground at Ink Block Murals Featured in Boston Globe Cover Story on Public Art

by Murray Whyte, Boston Globe, July 27, 2019

“Underground at Ink Block,” in the South End, may not make any grand political statement — it’s a growing collection of street art under I-93 — but just by being here, in an uncared-for slice of the city, it does. It shows the power of site-specific sensitivity, an old problem exploded with new thinking. The site was leased by National Development Group from the Massachusetts Department of Transportation to use as a parking lot.

Victor and Liza Quinonez’s idea for the Underground Ink Block was “a street museum that we can curate over the years, and give people here an opportunity to shine,” Victor Quinonez said.
Victor and Liza Quinonez

National rebuilt the dead space into a network of parks and trees, but it still felt barren. Then in 2017, National invited Victor and Liza Quinonez, who run the creative agency Street Theory, to enliven it. Their idea, “a street museum that we can curate over the years, and give people here an opportunity to shine,” said Victor, took off. Now it’s a showcase for street art that puts Boston’s best alongside the best in the world.

Judging by the thousands who turned out one weekend last month for the annual street festival there, it’s working. On a hot Saturday, they saw artists, including Quinonez, who went to the School of the Museum of Fine Arts and goes by Marka27, make a towering portrait of a young woman in fuschia and turquoise, running the full height of a double-decker support column….” to read full article, click here


Ribbon Cutting for Building 700 at The District Burlington

The District Burlington is transforming a 9-to-5 1970s office park into a 24/7 walkable mixed-use neighborhood. The District Burlington’s centerpiece, the 11-story, 200,000 square foot Building 700 prominently visible from nearby Route 128, has been thoroughly renovated. An 80,000 square foot, four-story glass-curtained addition has been built with floor-to-ceiling windows, an open floor plan and a private roof deck.

Existing office buildings at The District Burlington are being upgraded with new lobbies, entries and plazas. A new 170-room Marriott Residence Inn hotel and six new retail spaces are being constructed at The District Burlington. Tavern in the Square, TD Bank, Tuscan Kitchen, Island Creek Oyster Bar and Pressed Cafe are all open now, providing The District’s over 3000 tenants as well as visitors from all over Metro Boston many great eating and drinking venues. The District Burlington’s main artery, District Avenue, has been transformed into a pedestrian artery featuring widened sidewalks, bike sharing stations, lush landscapes and outdoor seating. New pocket parks and nature trails now line District Avenue.

Workspaces are currently available at The District Burlington ranging from 1,000 to 200,000 square feet. There is also opportunity to construct an approximately 180,000 square foot build-to-suit office building at The District Burlington. Visit for more information about office and retail leasing opportunities at The District Burlington.

Sudbury Town Meeting’s zoning change makes way for retail, housing development

By Brittney McNamara
MetroWest Daily News, Framingham

Posted Jun. 13, 2016 at 10:36 PM

SUDBURY – Voters passed a special zoning district for the former Raytheon land, bringing the town’s vision of a more bustling Rte. 20 corridor closer to reality.

Special Town Meeting on Monday night approved a zoning overlay district that will make possible National Development and Avalon Bay’s proposed Meadow Walk project at 526 and 528 Boston Post Road. The move, town officials said at the meeting, is the product of a decades-long discussion to bring more business and vibrancy to Rte. 20.

The zoning overlay district allows commercial development only on the 50 acres of former Raytheon land, meaning National Development’s proposed restaurant, retail and age-restricted housing at Meadow Walk can go forward.

Plans call for 60 age-restricted condominiums, 54 beds for memory-care patients, restaurants, shops like nail salons, a Whole Foods and 250 apartments. Those apartments must still be approved by the Zoning Board of Appeals and were unaffected by Monday night’s vote.

All together, the town expects the project to bring in around $800,000 in net tax revenue, but the changes come with costs. Planning Board member Dan Carty said the town’s education costs could rise $600,000 to $1.1 million because of the projected 65 students who will live in the development. To help lessen the project’s impact, the developers offered $2.5 million in one-time payments for various town departments as part of a town-signed agreement, a new traffic light to help with traffic near the Shaw’s plaza, money for a new fire station and other incentives.

In addition to the immediate impacts, the agreement allows Town Meeting to extend the overlay district to certain other parcels in town that would allow landowners to bring in more commercial development. The overlay agreement hinges, however, on a Town Meeting vote, giving residents general control over what comes into town, officials said.

“This is a plan that has long been in development,” Selectmen Chairwoman Susan Iuliano said. “The Planning Board has been working on some aspects of this plan going back to the 1990s. We’re here tonight because the Raytheon company is leaving Sudbury. Raytheon asked the town what its preferences were. The development plan before you tonight is a careful…response.”

Residents questioned the impact of the development on traffic, town water and the environment, but the project faced little opposition as a whole. One resident, however, questioned whether the development will benefit existing residents, or only change the town’s character to fulfill a years-long dream.

Town Meeting voted overwhelmingly to approve the overlay district, accept the Meadow Walk master plan and accept land for a new fire station from developers. Town Meeting had not voted on articles 4, 5 and 6 by the Daily News’ print deadline.

Developer sees next step in growth in South End

The Ink Block building at the corner of Harrison Avenue and Herald Street.

By Tim Logan Globe Staff March 06, 2016
Photo by Lane Turner/Globe Staff

First came the Whole Foods. Then some 400 apartments and condos.

Now it’s time to fill out the neighborhood.

National Development is taking the next step to remake a scruffy corner of the South End into one of the city’s prime new residential districts, announcing that it has a number of stores and restaurants that will soon move into its Ink Block development on Harrison Avenue.

“Not so long ago, nobody wanted to walk down Harrison,” said Ted Tye, National Development managing partner. “We’re trying to create energy.”

This same challenge is emerging in several sections of Boston — including the Seaport District and the far end of Allston — that are experiencing a rush of development. Typically housing or office space is the first to be built, with stores, restaurants, and other retailers following. While apartments in many of these places are renting fast, filling the storefronts on the street requires a delicate balance and takes a little longer.

At Ink Block, for example, Tye said his company wanted a mix of retailers that meet the needs of hundreds of new residents, while also giving outsiders a reason to visit.

“A neighborhood isn’t just residential. It’s residential and retail,” Tye said. “Very quickly, we want people to think about Harrison the way they think about Tremont Street.”

The first retail to open at Ink Block, a Whole Foods Market, certainly helped, said Gustavo Quiroga, director of place-making at retail consulting firm Graffito SP, which has done similar retail makeovers in the Boston area but not at Ink Block. Another big boost, Quiroga said, will come this spring when the popular outdoor South End Open Markets relocates across Harrison Avenue from Ink Block.

“It’s almost the definition of place-making,” he said. “That’s a great strategy for them to help bring new people to that part of the neighborhood, to put it on their map of the city.”

Next will come a strip of restaurants on Harrison Avenue. They include salad chain Sweetgreen; an outpost of Asian-fusion group Fuji; Bar Mezzana, a white-tablecloth Italian restaurant being launched by alumni of Barbara Lynch’s restaurant group; and a cocktail bar from Dropkick Murphys guitarist Ken Casey. Rounding out the block are a yoga studio and a Turnstyle Cycle studio, and a bank/coffee shop from Capital One with Peet’s Coffee.

All of them, per their deal with Ink Block, will have outdoor seating on a well-lit, extra-wide sidewalk out front. Most will have extended hours.

The neighborhood around Ink Block is fast transforming. Across Harrison Avenue, development firm UDR has begun work on a 577-unit apartment complex with street-level retail. Down the street, Related Beal is planning to turn the former Quinzani’s Bakery into housing with ground floor retail as well. A new office building is in the works on that stretch of Harrison, too, with significant upgrades planned at street level.

Tying all that together to create an interesting mix of businesses will require careful planning, Quiroga said. It will also require designing spaces, for example, that don’t all feel — and cost — the same. Quiroga added that a little imagination never hurts. His firm is working with Harvard University on a stretch of Western Avenue in Allston, where it has commissioned murals and hosted pop-up restaurants to help both retailers and their potential customers think about what the place could be.

“Some of this is just experimentation,” he said.

When it’s done, though, the neighborhood will have a bustle and identity of its own — one that will be determined much more by its street life than by the new buildings above.

“You brand your project by your retailers,” Tye said. “That’s what we want to do here.”

A common area with the letters “B’’ and “H’’ pays homage to the site’s old tenant, the Boston Herald.

Tim Logan can be reached at Follow him on Twitter @bytimlogan.

Doug Arsham joins ND as Vice President of Development

Doug will be primarily involved with the day-to-day development oversight of residential assets, from sourcing new opportunities through stabilization. He joins ND from Forest City Development where he also focused on residential development. Doug received a B.A. in Political Science from Tufts University and resides in Cambridge.

RHA 2015 Conference Keynote by Roseann Sdoia, former ND VP and Marathon Bombing Survivor

The Real Reporter
By Mike Hoban

On April 15, 2013 Roseann Sdoia’s life changed forever. That was the day of the Marathon bombing, when the second of two IED explosions shattered her right leg, which was later amputated. The road to recovery has been long and arduous, but through perseverance and determination, she has slowly learned to transform her thinking and turn her experiences into a source of support and encouragement for others facing similar challenges. Roseann will be the keynote speaker at the upcoming Rental Housing Association’s 2015 Expo, which will be held September 29th at the Hynes Convention Center (more details on the conference following her story below.

By now, many of us are familiar with the details of Roseann Sdoia’s harrowing ordeal and the near-miraculous series of events that put her on the road to recovery: The deadly explosion that brutally mangled her leg; the life-saving actions of the college student who literally carried her to the first responders; the loving care of the firefighter who accompanied her to the hospital (and who would later become her partner); the amputation of her right leg above the knee; and the physically and emotionally demanding training that enabled her to run her first 5K last year.

It is the stuff of a Hallmark movie, but unlike movies, real life continues on long after the credits roll or ( in her case) you cross a finish line; so Roseann Sdoia continues to fight every day. The road to recovery has been filled with setbacks as well as triumphs, all of which have served to better prepare her to be of help to other people that have suffered the loss of limbs, because she has been there.
“Often people say to me, ‘I don’t think I would have the strength to do what you’ve done through this’. And I think if it were me looking or talking to someone that had this happen to them, I’d be saying the same thing,” Sdoia acknowledges. “But the truth of the matter is, you don’t know what you have the strength to do until you’re actually faced with it.”

As inspiring as Sdoia’s journey has been, the path has not been without pitfalls. In October of 2013, she had hoped to return to a “normal” life by going back to her position of Vice President of Property Management at National Development. But she soon realized that going back to work and sitting behind a desk was actually having a detrimental effect on her recovery. “During those six months I felt as though my mobility had gone backwards because I was allowing people to do things for me. People want to help – and people were unbelievable – but it became easy to say okay.”

In addition, she did not feel that she was meeting her own expectations in terms of job performance. “Property management is a very demanding job, especially on the residential side, and I had a team of 25 employees that needed answers, support and direction, and I felt I was not effectively providing that,” she says. She ended up taking a leave of absence to “figure things out” – with the full support of her employer. “National Development was just phenomenal,” she adds.

So in 2014, she focused mainly on her physical recovery, which culminated in the running of a 5K in Lowell, just before Thanksgiving. (“It was more of a shuffle,” she jokes). It was not long after that it became clear that the recovery process was going to take a very long time. “I had this epiphany where it was like, ‘Oh my God! It’s taken me two years to get my gait to where it was almost normal. And running two times a week, it’s going to take me a lot longer,” she recalls. “I was really beating myself up and getting depressed about (my progress), but then I had that epiphany and I was okay. So this year has been focused on getting my life organized – the where and how I want to go about my future and what that means, finding out what’s really important to me, and what to focus on going forward.”

Sdoia says she has things about “80 percent figured out”, and this summer is the first time in two-and-a-half years that her life has begun to feel settled. “As crazy and chaotic as it’s been, I wouldn’t change anything over the past two years, and I am so grateful and thankful for those unbelievable opportunities I’ve had, because they’ve given me a chance to realize what I can do and can’t do, and what I want to try to pursue versus what I don’t.” So her focus has changed from trying to run a marathon to finding the best way to help other amputees get through the difficult process.

She is especially grateful for the organizations that supported her through her recovery, from the initial hospitalizations through today. Within two days, the nonprofit America’s Fund (a division of the Semper Fi Fund – which is usually reserved for wounded military personnel) reached out, providing encouragement and support to both Sdoia and her family. “They knew how psychologically debilitating it could be, and how important it was for my family to know that I was going to be okay. And for me to see how people who were missing a leg or both could be so natural and so physically fit was huge. And it was also important for me to see female amputees.”

During the course of her recovery, she has been greatly aided by a number of organizations designed to help amputees to transition to a fully functioning life, including Challenged Athletes Foundation, Wiggle Your Toes, Disabled Sports USA, Friends of Bethany and many others. And locally, she credits the Greg Hill Foundation with providing support. One of her goals now is to pay it forward by helping others who have lost a limb – whether it be from trauma or cancer or some other illness – to connect with these organizations.
“I think it’s truly important for me to give back to so many of these organizations who, starting on that day, helped me to survive,” says Sdoia. “For me, I have people who come to me and tell me about a person that is (going to have a limb amputated), and my immediate response is ‘When do you want me to talk with them?’ Because they need to know that there are organizations out there that can be so supportive during this awful time.”

Sdoia also does numerous speaking engagements with schools and business organizations, to deliver the message that although life has many obstacles, if you try to stay positive in situations that you can’t control, you can get through anything. “If you can’t change it, why talk about it? You can go to self-pity, or you can do what you need to do to move on. You have a choice. It depends on which road you want to go down.”

About the 2015 RHA Conference:
This will be the fifteenth annual conference and exposition, with 91 exhibitors and 650 attendees already committed. The conference speakers, in addition to Roseann, include Chrystal Kornegay, Undersecretary for Housing and Community Development for the Commonwealth of Massachusetts; Michael Roberts, Senior Vice President of Development for AvalonBay, and motivational speaker Tim Gard. In addition there is an awards ceremony recognizing communities of excellent and professional achievement. For more information on the conference, go to:

The Rental Housing Association (RHA) is the local affiliate of the National Apartment Association (NAA), and consists of over 600 members who own, manage or provides goods and services to 130,000 apartment homes in Massachusetts. NAA is a federation of 170 state and local affiliates, NAAn encompasses over 68,000 members representing more than 7.86 million apartment homes throughout the United States and Canada

Siena announced as latest condominium development at Ink Block Boston

Boston, July 13, 2015 – National Development, today, unveiled plans for a new 79-unit luxury condominium building on Albany Street. Siena will be the second luxury condominium building, the sixth building in total, emerging from the ground up in Boston’s fastest growing neighborhood, Ink Block, a South End six-acre mixed-use neighborhood.

Ted Tye, National Development’s Managing Partner, stated that Boston’s condo market is booming. “After the recent success of Sepia, we want to respond to the intense demand in the marketplace for condos in Boston. Siena will bring a unique, new concept to Boston: maisonettes – loft-style units with ground floor terraces. This unique product offering, coupled with a rooftop ‘Sky Lounge’, will create even more dynamic amenities for our customers,” said Tye. “Ink Block is rapidly growing into its own neighborhood within a city. Hundreds of new residents are moving to this new community in the South End. The addition of Siena will complement Ink Block’s unique spectrum of living opportunities.”

Ink Block Growth Numbers:
• Sepia – 83 -unit luxury condo building – 100% pre-sold, opening November 2015.
• Ink Block Apartments – 315 units, 88% leased in less than 5 months.
• Retail – 50,000 square foot flagship Whole Foods Market, Capital One 360 Café, & additional 35,000 square feet of restaurants and retail.
• AC Hotel by Marriott adjacent on Albany Street scheduled to open in 2017.

“With such limited inventory available, today’s buyer is forced to make fast decisions,” said Jamie Curtis, a Sepia Homeowner. ”Luxury, convenience and amenities are driving buyers to one property over another. From the Whole Foods to the unique building amenities, the entire package offered at Ink Block is above and beyond other properties on the market. I expect the condos available at Siena to be in high demand.’

Siena will be comprised of varying sized units including studios, one, two, and three bedrooms, as well as the maisonettes. National Development plans to begin construction in 2016 and open in early 2017. The project architect for Siena is Elkus Manfredi Architects.

About National Development
For over 25 years, National Development has been one of the most active development firms in Massachusetts. Specializing in mixed-use, retail, multi-family, commercial and senior housing projects, National Development and its affiliates have developed over 25 million square feet of space. For more information, visit or follow @nationaldevelop.