Central Massachusetts Senior Housing Project Gets $35M
The 123-unit development will be completed by early 2025.
The 123-unit project will cater to active adult seniors. Image courtesy of JLL Capital Markets
United Group of Cos., through borrower UW Senior LLC, has received $35 million in financing for The Arbella at Bramble Hill, a 123-unit senior housing project in Worcester, Mass. JLL Capital Markets secured the construction loan from Washington Trust, on behalf of the borrower.
Other partners involved in the project include Marchionda & Associates, Syvertsen Rigosu Architects and Campanelli Associates Construction Corp. The construction of the three-building development is set to be completed by the beginning of 2025, with the upcoming community catering to active seniors over the age of 55.
According to Worcester Business Journal, United Group purchased the development site in June for $4.9 million from Premier Property Group of Dracut. Allerton Development Group sold the lot to Premier in 2018 for $820,000, as reported by MassLive.
The Arbella at Bramble Hill is set to encompass one- and two-bedroom floorplans, an 8,500-square-foot clubhouse, elevators, ample green space. Located at 757 Salisbury St., the development will be within walking distance of Kinney Woods and Holbrook Forest, and near the intersection of interstates 290 and 190, which provide direct access to downtown Boston.
Recently, JLL Capital Markets arranged another loan for a senior housing community in Smithtown, N.Y. Sculptor Real Estate and Benchmark Senior Living secured $29 million in financing for Whisper Woods of Smithtown.
