Press

Developers break ground on Lynnfield Commons luxury apartment project
Sunday, June 29, 2008
By Jenny Amaral/The Daily Item

LYNNFIELD-Lynnfield Commons, the town’s first large-scale rental project, broke ground Thursday afternoon, despite a few raindrops.

Developers, investors, and local government officials dug gold-plated shovels into the dirt that will soon be the home of 200 luxury apartments.

“We are thrilled,” said the developer’s president, Rick High of John M. Corcoran & Company. “This community will be a first-of-its-kind rental development for this town and a great addition to the current landscape.”

Selectman Arthur Bourque agreed.

“A lot of people worked hard to work together in this partnership with the community,” he said. “We’re fortunate to have this development…I look forward to the completion of this project.”

Residents of Lynnfield Commons will have access to nearby Lynn Woods Reservation, an onsite fitness center, outdoor pool and sundeck, indoor and outdoor WI-FI access, a furnished clubhouse and parking.

The luxury apartments will feature energy efficient appliances, water-saving toilets, granite countertops, full-size washers and dryers, wall-to-wall carpeting, and either a patio or balcony. Premier apartments will also include 11-foot cathedral ceilings, kitchen islands, fireplaces, and bay windows. Prices will range from $1,600-$1,800.

“The site will have more than 60 percent green space as well as the option to live in smoke-free buildings,” said High.

One of the project’s lenders is locally known Eastern Bank.

“I’m proud to give residents a rental housing option that they really haven’t had until now,” said Gary Leach. “This is a project that will be beneficial to the community.”

The development will provide options for young residents wishing to stay within the community, but not quite able to purchase their own home, said Bourque, as it meets the town’s affordable housing needs. He later added that town officials have long presented challenges to developers in order to maintain the town’s characteristics, and that this project falls in line with their high standards.

Construction officially started at the Route 1 site at the end of March. The clubhouse will be the first completed project and open for occupancy in early 2009. Developers hope to finish the development entirely by August 2009.