Having closed its construction loan and land purchase, Trammell Crow Residential (TCR) plans to move ahead with construction of Alexan Kingston, a four-story Class A apartment community in Kingston, Mass. Work is slated to begin this month and be completed in the summer of 2023. Located at 1 Kingston Collection Way, the luxury, 282-unit multifamily property will feature both market-rate and affordable apartments. The new community will replace the shuttered Sears department store at Kingston Collection Mall. Last month, TCR sold Alexan Optimist Park in the Mill District of Charlotte, N.C.
Residences will include studio, one-, two-and three-bedroom floorplans ranging in size from 620 to 1,500 square feet. Apartments feature walk-in closets, in-unit washers and dryers, wood-style plank flooring and granite countertops. Among the amenities is work space that includes private space, conference rooms and co-working areas.
Diversified tax base
“This project is a great example of forward thinking by the town of Kingston, the mall and Trammell Crow Residential,” Mark Baranski, TCR development manager told Multi-Housing News.
“More than two years ago, the town and mall re-zoned the area to allow for multifamily, with the intent of diversifying their tax base and creating new traffic drivers for the mall. We started working with both stakeholders soon after the re-zone was enacted. The fundamentals of the town of Kingston and the broader submarket were exceptional from almost any perspective in 2018—job creation, housing demand, transit infrastructure—and they are even more attractive today. Strong fundamentals along with the clear commitment from the town and the mall made this a compelling investment.”
In addition to the hurdles inherent in building a residential community next door to an operating mall featuring Macy’s, Target, American Eagle Outfitters, Famous Footwear and many other stores, restaurants and leisure-time attractions, the project required relocation of utility easements and an upgrade of various town services, Baranski said.
“Many of (those) were being designed and priced concurrent to our design process,” he added. “Coordinating all the moving parts, more than we typically see on a project of this size, required clear lines of communication and a firm commitment from the town, the utilities and our design and engineering team.”
The apartment community will rise 1 mile from the Kingston MBTA commuter rail station, offering direct access to South Station in Boston’s Financial District. It will offer residents convenient access to both job centers and lifestyle amenities.
The ocean, visible from some top-floor east-facing suites, is situated less than 1.5 miles from the property.