Yesterday, Northland Investment announced that it closed on a $98M construction loan from PCCP for its $115M Moody & Main mixed-use development in Waltham center. Because of the project location in one of the strongest suburban office markets and its easy access to public transit, Northland could choose from a number of lenders, Northland SVP Peter Standish tells us. Still doing site work, Peter expects construction to start in two weeks and first occupancy by next summer. Moody & Main will be completed in summer ’16. (By that time the trees won't be translucent anymore.) Rents will be about $3/SF for the studio to three-bedroom apartments.
Lenders, Lenders Everywhere
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