By Keith Loria
“At TCR, we are focused on developing and constructing the highest quality multi-family properties that not only exceed consumer expectations, provide outstanding returns for our investors, but also enhance communities,”Andy Huntoon, Trammell Crow Residential’s managing director, told MHN. “The Northeast region—and Boston, in particular—has a long-standing multi-family shortage driven by a strong, dynamic regional economy and increased demand for rental housing. We are confident that this development, in which significant detail was paid to luxury amenities, will fill that void, better the lives of many, enhance the Billerica community, and help investors realize meaningful returns.”
Situated on nearly three acres, the development will feature studios, one-, two- and three-bedroom units, all containing granite countertops, wood flooring and washer/dryers.
Alexan Billerica will also include 6,000 square feet of recreation and amenity space. In the courtyard, it will offer a large resort-style pool, a fenced in tot-lot for kids, a BBQ area and other recreation areas for games such as cornhole or horseshoes.
The Wi-Fi enabled interior amenity space will offer a well-apportioned fitness center with yoga studio, business center with nooks, resident lounge area, an entertainment section with games that will include ping pong and a foosball table, and a kitchen for hosting. Additionally, it will offer a central package collection and distribution area for online purchases.
“The development will provide much needed modern, energy efficient housing for existing and new area residents that offers them a convenient commute and access to lifestyle amenities (groceries, outdoor activities, restaurants, etc.),” Huntoon said. “TRC recognized some time ago that there was a shortage of such developments—high-quality rental options with access to transportation and amenities—in a region with a thriving economy.”
The property is convenient to Route-3, I-495 and I-95. An MBTA Commuter Rail Station is also within walking distance. According to Huntoon, the site will offer direct access to transportation, shopping and an employment center.
“The location is proximate to Route-3 extending from Lowell to Burlington which is a hot-bed for significant employment options,” he said. “Additionally, with the commuter rail one-mile from the site, residents will have an easy option for beating the traffic into downtown for either cultural or employment opportunities in the city. The property will benefit from its location on Route-3a as a relatively high-visibility location, but not suffer from noise concerns due to the layout of the site that pulls units away from the street to provide a more serene setting.”
Leasing on the development will begin August 2018.