(Read more on the debt and equity markets andmore on the multifamilymarket.)
LEXINGTON, MA-Efforts to revitalize this historic community'stown center has taken a vital step forward, as the developers of aresidential/retail complex have secured $18.8 million inconstruction financing. The three-story building to be known asLexington Place is slated for completion by next autumn followingdemolition of a 95-unit motel on the site at 1720 MassachusettsAve.
Lexington Place will pursue certification from the USGBC as aLEED-quality mixed-use structure, developer Arthur Klipfel tellsGlobeSt.com. "It is an ideal infill project," says Klipfel, whoseCambridge-based Oaktree Green LLC is teaming with the owner of theparcel, Eric Shapiro, to replace the defunct Battlegreen Inn.
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