The project went through a lengthy permitting process, and was finally resolved after an appeal of a sewer permit by a local citizens group was finally cleared up in September. The development will consist of 10 luxury condominium homes in renovated historic buildings on the campus, including Upham House, which will be converted into five luxury units, the Stable, which will be converted into four residences, and South Cottage, which will be restored with a small addition as a single home.

The project will also include 111 new condominium homes in duplex, triplex, four-plex and five-plex buildings that will range from approximately 2,300 sf to 3,100 sf, with prices starting just under $1 million. The sale is part of a long-range master plan for McLean Hospital, owned by Partners Healthcare Corp. The land sale of is part of a three-way development plan. Northland and partner New Boston Fund will develop the Woodlands at Belmont Hill, while American Retirement Communities will build a 480-unit senior housing complex and Belmont Value Realty will construct a 150,000-sf research and development facility on land adjacent to the hospital.

The $85-million project will be financed by a construction and acquisition loan of $25 million provided by Middlesex Savings Bank, with the rest of the financing coming from a private New Boston Fund account, New Boston Belmont LP. Northland acquired the property from Partners Healthcare for $14.7 million, and will develop the property with an in-house construction team. Jim Velleco, of the Marblehead-based Grazado and Velleco, is the project architect.