WALTHAM, MA—Northland Investment Corp. of Newtown, MA has closed on a $98-million construction financing package for its Moody & Main On the Common transit oriented development project.

Moody & Main On the Common will consist of three five-story buildings on a 4.5-acre site in downtown Waltham. The development, to be completed in the summer of 2016, will feature 269 apartments, 27 of which are affordable, 27,595 square feet of retail space, a 300-car parking garage and 92 surface parking spaces. The first phase of apartments will be ready for occupancy in the summer of 2015, company officials say.

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