By Joshua Ayers, Senior Editor
Melrose, Mass.—Wood Partners has announced that it has surpassed 30 percent occupancy at its soon-to-be completed 212-unit mill renovation, Alta Stone Place, in Melrose, Massachusetts—about 20 minutes from downtown Boston.
Wood has already leased all 67 units in the first two buildings of the four-building community located at the site of the former Boston Rubber Shoe Company. The third building’s 52 units are being actively marketed and leased, with the fourth building expected to open to residents in February 2015.
Wood Partners’ property management arm, Wood Residential Services, is heading up leasing and managing at the property.
“We are excited to bring this historic rubber shoe factory back to life with a new purpose,” says Adelaide Grady, Boston director of Wood Partners. “The apartments in the factory building are truly unique and showcase the wonderful architecture of the original use. Our residents can enjoy exposed brick walls, arched doorways, original structural beams and the original large windows.”
Bargmann Hendrie + Archetype was tapped as the architects for the project utilized the structure’s original features into the redesign, including copper gutters and rainspouts, fine brick detailing, as well as windows and exposed wooden beams. The focal point of the development was the mill’s 100-year-old, eight-story smoke stack, which is now the centerpiece of the community’s garden area.
Apartments at Alta Stone Place include a mix of one-, two- and three-bedroom floor plan options, and, according to the property’s website, features upscale finishes and features such as dark designer cabinetry, granite countertops, faux wood blinds, tile surrounds in the bathrooms, high ceilings and oversized windows. Select units include stall showers, sunrooms and oversized kitchen islands.
The amenities package includes a handful of indoor and outdoor common spaces. Residents have access to a clubhouse that includes a state-of-the-art fitness center, a great room with kitchenette, a game and billiards room and a media room. Outside, residents will be able to enjoy the community’s heated pool and grilling areas, as well as a fenced dog park.
The third building received five new residents in November and Wood Partners is expecting to ink an additional eight leases before the new year, and a waitlist has been created for the 93 units located in the four-story original mill building.