X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

HUDSON, MA-A multimillion-dollar project will bring 156 units of senior housing to this town within the next four years when Thorndike Development Co. breaks ground on a 44-acre site near the junction of Routes 495 and 120. William Mullen, chief operating officer with the Quincy-based developer, tells GlobeSt.com that the project, which is set to break ground this spring, will put 80-multifamily units and 76 detached homes on the site in a village-like setting.

“This is our use of a traditional neighborhood design,” says Mullen, noting that the units will be centered around a village green and surrounded by walking paths that will bring a sense of community to the development. “It will create a village in the style most of us were familiar with when we grew up.”

The cost of the project, which is expected to be completed in 2010, has not yet been set but Mullen says the total tab should stretch to several million dollars. Thorndike recently acquired the site from Southborough Ventures Inc. and purchased the development rights from its affiliate, Hudson Hillside Development LLC. Terms of that transaction, which was brokered by Robert E. Cronin of Meredith & Grew’s Suburban Brokerage group, were not disclosed.

Mullen says the firm selected the site because of its location near two of the area’s main roadways and a number of retail stores. “It’s near almost everything but apart from almost everything,” he says of the parcel, located off Technology Drive next to the Intel Corp.’s headquarters.

The 80 condominium units will range in size from 1,800 to 2,400 sf while the 76 detached homes will be sized between 2,300 sf and 2,600 sf. The first phase of the development will be marketed next fall with occupancy slated for early spring 2007. Prices on those units have not yet been set, Mullen says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.