Northland Investment Begins Suburban Boston Apartment Development
- Jun 30, 2014
Waltham, Mass.—Work has started on The Merc at Moody & Main, a multifamily development in Waltham, Mass., that will also include a retail component. Newton, Mass.-based Northland Investment Corp., a privately held multifamily specialist, is the developer.
The development will include 269 new residences, 27 of which are affordable, in three five-story buildings on the 4.5-acre site. There will also be about 27,600 square feet of retail space, a 300-car parking garage and 92 surface parking spaces. The first grouping of residences will be ready for occupancy next summer, with project completion set for the summer of 2016.
Common amenities will include a roof top deck, outdoor patio/courtyard area, a fitness center, library, game room and clubroom. The interior court will be landscaped and linked to Moody St. via a breezeway at the ground level. Units will all feature washers and dryers, dishwashers, walk-in closets and solid stone countertops.
The Merc at Moody & Main counts as TOD. It will be across from the Waltham Common and a block from the Waltham MBTA commuter rail station. The MBTA Express bus stop is located is nearby as well, offering a direct route to Boston. Waltham is a major Boston-area suburb, west of the city and along Massachusetts 128 (I-95).
The community is the first new development in downtown Waltham in recent years, and will honor the historic Mercantile Building that once stood at the location, but which was torn down in 1979. According to Northland, the development is designed to evoke the historic character of downtown Waltham, with buildings that feature masonry facades and large windows.