Luxury Tower Breaks Ground in Boston’s Jamaica Plain, CBRE Secures $84M Financing
- Apr 22, 2016
Boston—CBRE/New England recently announced that its multifamily debt & structured finance team secured a total of $84.3 million in financing for the construction of Serenity, a 15-story, 195-unit luxury apartment community that recently broke ground in Boston’s Longwood Medical Area (LMA).
The debt and equity for the apartment tower’s construction was procured by John Kelly, Michael Prakken, and Sam Dylag with CBRE/NE. The property, which received the green light from the Boston Redevelopment Authority in 2013, was designed by Prellwitz Chilinski Associates and is being developed by the Longwood Group.
Serenity will sit at 105A S Huntington Ave., offering views of the Longwood Medical Area to the east and Olmsted Park to the west and southwest, at the same time featuring both low- and mid-rise sections. The Jamaica Plain community will comprise one-, two- and three-bedroom units, as well as townhouse-style lofts. The residential inventory will include 32 affordable units.
The 15-story building will feature a 5-story brick podium, approximately 2,000 square feet of ground level retail, and a 100-spot underground parking garage. Amenities will include a large pool deck and green roof space on the low-rise component’s roof, as well as a fitness center, billiards room, lounge, kitchen, library, and computer room on the sixth floor.
“Serenity is well positioned to capitalize on Boston and the LMA’s unmet demand for luxury apartment living. We look forward to delivering a best-in-class product for our future residents and continuing to foster the live-work-play atmosphere that will drive Boston forward,” said Anthony Nader, Longwood Group vice president, in a prepared statement.
Rendering courtesy of Prellwitz Chilinski Associates