Toll Brothers JV Develops Boston-Area Luxury Community
- Apr 22, 2020
Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers Inc., has partnered with an affiliate of The Carlyle Group for the development of Emblem 120, a 289-unit luxury community in Boston’s suburb of Woburn, Mass. In order to bring the project online, the joint venture obtained a construction loan from Wells Fargo Bank. The development team includes Shadley Associates as landscape architect, Stantec as interior designer and Callahan Construction as construction manager. The community broke ground in the fall of 2019, with expected completion in spring 2022.
Located at 120 Commerce Way, Emblem 120 will include 9,390 square feet of ground-floor retail. The six-story building designed by CUBE 3 will encompass a mix of studios and one- to three-bedroom floorplans ranging from 550 to 1,400 square feet. The community’s 20,000 square feet of amenity space will feature a resident lounge, coworking space, media lounge, fitness center and pet spa, as well as a six-story parking garage. Upon completion, Toll Brothers Apartment Living will handle property management at the property.
The 3.4-acre development site is 13 miles north of downtown Boston, within walking distance of Anderson Regional Transportation Center. Close to Interstate 93, the property also has direct access to Interstate 95. Woburn Village Shopping Center is 1 mile south of the community.
According to President Charles Elliott, Emblem 120 is the fourth project undertaken by Toll Brothers Apartment Living in the Boston suburbs. Other local projects include a 390-unit luxury community in Needham, Mass., recent winner of a Multi-Housing News Excellence Award.