Roslindale, MA — Cornerstone Realty Capital recently arranged $4.4 million in financing for the construction of a residential condominium development in Roslindale, MA.
Located at 32 Cummins Highway, the development will include 9 condominiums, a mix of (7) two-bedroom, two-bathroom units and (2) two-bedroom, two-bathroom units with a study. Units will range from 990 square feet to 1,243 square feet. All of the condominiums will feature high-end finishes.
Kitchens will have granite countertops, custom cabinets, and high-end stainless steel appliances. Bathrooms will feature dark wood vanities and custom tile surround showers. Residents will also benefit from an in-unit washer and dryer. The newly constructed building will feature 12 parking spaces (including 3 covered spaces). One parking space will be allocated to each condominium.
Roslindale is located less than 10 miles south of Downtown Boston, next to the popular city suburb of Jamaica Plain. The property is situated close to many parks, including the beautiful and spacious Arnold Arboretum of Harvard University less than a mile from the property. Tenants can enjoy frequenting the Franklin Park Zoo, which sits just about 2.7 miles away from the property’s front door. Residents of Roslindale enjoy living in a more residential neighborhood community with affordable housing costs, while also being in close proximity to one of the key employment regions of the Northeast, Downtown Boston. Many bus stops surround the property, giving access to a variety of areas in and around Boston, including Cambridge. Residents can also pick up the commuter rail at the Roslindale Village stop on the Needham line, situated about a half of a mile away.
Andrew Saccone, Vice President at Cornerstone, stated “Roslindale Village offers a unique suburban atmosphere within the city of Boston. Residents benefit from the increasing amenities in the area as well as the proximity to greenspace and public transit. It is a highly desirable area which resulted in an exciting development project.”
Cornerstone was able to deliver a full-term fixed rate interest only financing structure.