New York Life Real Estate Investors has provided $96 million in fixed-rate mortgage financing for the The Merc at Moody & Main, a multifamily and retail complex in downtown Waltham.

Developed by Northland Investment Corp., the complex at 45 Moody St. includes 269 apartments and a Brothers Marketplace supermarket.

“The Merc is an exceptional transit oriented project developed by Northland Investment Corporation that is located steps away from the Waltham commuter rail station and close to shops, restaurants and museums along Moody Street,” Eric Becher, head of New York Life Real Estate Investors’ Northeast Regional Office, said in a statement.

To read full article, visit https://www.bankerandtradesman.com/

The post Merc & Main Gets $96M Mortgage appeared first on Northland.

The Merc @ Moody and Main, at 269 units one of the largest new apartment complexes in downtown Waltham in ages, is fully leased, according to its developer, Northland Investment Corporation.

Rents at the three-building complex—carved from the old Mercantile Building (hence its name) and including amenities such as a roof-top deck and a fitness center—started at $2,095 a month for studios; $2,495 for one-bedrooms; and $2,895 for two-bedrooms.

Leasing commenced in 2015 while the project was still under construction.

Part of the Merc’s popularity might be due to its location: Just across Waltham Common from a commuter-rail stop that connects riders to the Red Line at Porter Square in 15 minutes, give or take.

The complex will also soon host a 12,000-square-foot outpost of Roche Bros.’ Brothers Marketplace brand. That market is expected to open this coming spring.

To read the full article, visit https://boston.curbed.com/2017/9/25/16359192/waltham-apartments-merc-moody

The post Waltham’s 269-unit Merc @ Moody and Main fully leased appeared first on Northland.

To read the full article, visit: https://www.bostonglobe.com/business/2017/09/19/roche-bros-going-open-waltham-apartment-building/GGjfKfZNAOA86OftskoTCI/story.html

The post Roche Bros. is going to open in a Waltham apartment building appeared first on Northland.

WALTHAM

The year started off with a bang for the developers of The Merc at Main and Moody, when late last month the building at 1 Moody St. was demolished.

The developers hope to finish the year with a bang as well, as the end of 2016 is the target date for the completion of the Merc mixed-use complex.

Construction on the three-building, five-story, 269-unit apartment and retail complex began in the summer of 2014, but the Merc has been in the works for nearly a decade. The developers worked with the city to refocus and refine the project until it worked for both parties.

“We saw it as a great opportunity for multi-family development,” said Peter Standish, senior vice president with Northland Investment Corporation, the developers of the project.

“It’s in the heart of the downtown. Moody Street had just gone through its restaurant transformation and it all seemed like a great opportunity and time to build,” he added.

Many installations in the building reflect the history and culture of Waltham. The rugs in apartment hallways are adorned with watch gears. Collages of old Waltham postcards with handwritten notes will soon adorn the elevator lobbies.

The look and design of the building is modeled after the old Mercantile Building, at the corner of Main and Moody streets. That building stood next to Waltham Trust, Central Square Movie Theatre and the Odd Fellows Building on the Moody Street side, all making up what was known as Central Square. The building was demolished in 1979 and replaced with 1 Moody St.

The structure at 1 Moody St. was the last to be demolished on the property. Northland Vice President of Development Kent Gonzales said construction on the new building on that location will start sometime in the spring. Half of that building, which runs from Main Street to Charles Street along Moody Street, is currently under construction. The building on Charles Street is nearly completed and scheduled to open by the spring, according to Gonzales.

The first finished building, along Main Street, has 40 of its 87 units occupied. Standish said most of the people living at the Merc either work in the high-tech industries along Rt. 128, or are empty nesters. He said there aren’t many tenants who work in Boston, but the proximity to the commuter rail allows that possibility.

The building along Charles Street will have 64 units and the building along Moody Street will have 118 units.

In addition to the apartments, there is also 27,595 square feet of retail space on the first floor of the buildings along Main Street and Moody Street. Currently, Santander Bank is on Main Street, but will move to the corner of Moody and Main Streets when the building at that location is completed. In the vacated space on Main Street and in the retail space along Moody Street, Gonzales said he is looking for a “signature” restaurant, “not a chain.”

The post Waltham’s The Merc Eyes 2016 Completion appeared first on Northland.

Friday, June 27, 2014

Construction has begun at The Merc at Moody & Main, a new mixed-use project by Newton-based Northland Investment Corp. in downtown Waltham.

The project consists of 269 new residences in three five-story buildings on a 4.5 acre site, along with more than 27,000 square feet of retail space, a 300-car parking garage and 92 surface spaces you can check here.

The first phase of residential development is scheduled to be ready for occupancy next summer, with full buildout by 2016.

The project, whose name references the Mercantile Building which once stood on the site, is a block from the MBTA commuter rail station and near an MBTA Express bus stop.

“Waltham’s downtown is a prime location convenient to regional transit and we are very excited to be a part of this new chapter in the city’s history and its future,” Peter Standish, senior vice president at Northland, said during a ceremony Thursday.

Buildings will have masonry facades.  Residents will have access to a roof deck, outdoor courtyard and patio, library, clubroom and fitness center.

The post Mixed-Use Project Begins in Waltham appeared first on Northland.

06.26.2014, Waltham, Mass. – Construction is now underway for the first phase of apartments at Moody & Main, Northland Investment Corporation announced today. The Merc at Moody & Main, the first new development in downtown Waltham in recent years, will honor the historic Mercantile Building that once stood at this landmark location. The mixed-use, transit-oriented development includes 269 new residences, 27 of which are affordable, in three five-story buildings on the 4.5-acre site along with, 27,595 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.

Access to transit is a primary feature of The Merc at Moody & Main, located across from the Waltham Common and just one block from the Waltham MBTA commuter rail station. The MBTA Express bus stop is located just steps away for a direct route to Boston, as well. The location also offers convenient access to interstate Routes 128 (I-95) and I-90, providing quick and easy driving access to Boston, Cambridge and Waltham’s highly desired suburban office market.

With a nod to days when the Mercantile Building was a focal point of the downtown, The Merc at Moody & Main will bring renewed excitement to the heart of the city with new residents and active retail on the ground floor. Designed to evoke and respect the historic character of Waltham, the buildings will feature masonry facades with large windows while also providing abundant amenities for residents to enjoy. With this design, Northland is creating a contemporary, urban village that draws inspiration from the past.
“This project could not have come to fruition without the support of the City of Waltham and we are very grateful for all the time they have dedicated to The Merc,” said Peter Standish, Senior Vice President at Northland. “Waltham’s downtown is a prime location convenient to regional transit and we are very excited to be a part of this new chapter in the city’s history and its future.”

At a kick-off reception today, the Northland team was joined by Waltham Mayor Jeannette McCarthy; City Council President Robert Waddick, as well as other local officials and city council members.

“The City and its residents are very excited to welcome this new addition to downtown and we are proud to partner with the Northland team,” said Jeannette McCarthy, Mayor of Waltham. “Moody Street continues to evolve and this new influx of residents will add to the vibrancy of our downtown.”
The development is surrounded by the city’s numerous and diverse retail shops, grocery, and entertainment and cultural venues.

Residents will have access to a roof top deck, outdoor patio/courtyard area, a fitness center, library, game room, and richly appointed clubroom. The interior court will be landscaped and linked to Moody Street via a wide breezeway at the ground level. The well-equipped apartment homes will all feature washers and dryers, dishwashers, walk-in closets, stainless steel appliances, European-style cabinetry, and solid stone countertops.

For more information, please visit www.liveatthemerc.com 

The post Construction is underway at Waltham’s Moody & Main appeared first on Northland.

When completed, something expected to happen in the summer of 2016, Moody & Main On The Common will include 269 apartments, 27,595 square feet of retail space, a 300-car parking garage, and 92 surface parking spaces; the project is located one block from the Waltham MBTA commuter rail station, said Northland, a Newton-based real estate investment firm.

“Moody & Main will create a new and vibrant neighborhood in the center of downtown with first class amenities and high end finishes throughout,” Northland president and chief executive Steven P. Rosenthal said in a statement. “Moody & Main is a true transit-oriented development that will offer residents a 25-minute public transit commute to downtown Boston from their front door, while providing convenient walking access to restaurants, retail, and grocery stores.”

PCCP LLC provided the loan for this project, and Colliers International acted as the mortgage broker. ADD Inc. is the architect, and the general contractor is Erland Construction. CBRE is the exclusive leasing agent for the available retail space.

The post Moody & Main project in Waltham closes on $98m financing package appeared first on Northland.

05.27.2014, Waltham, MA – Northland Investment Corporation, a privately held, vertically integrated real estate investment company based in Newton, MA, announced today that it has closed on a $98 million construction financing package for Moody & Main On The Common, a mixed-use smart growth development in the heart of downtown Waltham.

Moody & Main On The Common is located across from the Waltham Common, and one block from the Waltham MBTA commuter rail station and the scenic Charles River. The development will offer convenient access to interstate Routes 128 (I-95) and I-90, providing quick and easy access to Boston, Cambridge and Waltham’s highly desired suburban office market. Moody & Main On The Common is surrounded by numerous restaurants, retail shops, entertainment and cultural venues. Additionally, Waltham is home to Bentley University and Brandeis University, as well as Boston Children’s Hospital at Waltham and Mass General West.

“This is a very exciting project for us and for the City of Waltham. Moody & Main will create a new and vibrant neighborhood in the center of downtown, with first class amenities and high end finishes throughout,” said Steven P. Rosenthal, President and CEO of Northland. “Moody & Main is a true transit-oriented development that will offer residents a 25-minute public transit commute to downtown Boston from their front door, while providing convenient walking access to restaurants, retail and grocery stores.”

Moody & Main On the Common consists of three five-story buildings on a 4.5-acre site. Once complete in the summer of 2016, it will feature 269 apartments, 27 of which are affordable, 27,595 square feet of retail space, a 300-car parking garage and 92 surface parking spaces. The first phase of apartments will be ready for occupancy in the summer of 2015.

The luxury apartment homes will feature washers and dryers, dishwashers, walk-in closets, stainless steel appliances, European-style cabinetry, and solid stone countertops. Additionally, the residents will have access to a roof top deck, outdoor patio/courtyard area, a fitness center, library, game room, and richly appointed clubroom. The interior court will be landscaped and linked to Moody Street via a wide breezeway at the ground level.

Designed to evoke and respect the historic character of Waltham’s downtown, the buildings will feature masonry facades with large windows. The landscaping will create a pleasant pedestrian experience from all vantage points of the site. The urban street edge will have wide sidewalks, street trees and benches, and a mini-park. The interior portion of the site will feature landscaped pathways surrounding the surface parking, and gathering spaces to sit and relax.

Moody & Main On The Common is designed to be consistent with the latest sustainable principles. Sustainable features include Energy Star appliances, low flow fixtures, individual unit water metering, white roofs, low VOC paints and carpets, bike racks and bike storage rooms, and single stream recycling.

PCCP, LLC provided the loan for this project, and Colliers International acted as the mortgage broker. ADD Inc. is the architect, and the general contractor is Erland Construction. CBRE is the exclusive leasing agent for the available retail space.

The post Northland closes on $98 million in financing for transit oriented mixed-use development appeared first on Northland.