As Construction Proceeds on New Apartments, Marketing Phase Will Begin

WHAT: The AFL-CIO Housing Investment Trust and developers Hub Holdings LLC of Boston and Neighborhood Development Associates of Lynn will honor the union construction workers on the new Gateway North Apartments in Lynn with a celebratory lunch of appreciation.

WHEN: 11:30 a.m. on Thursday, Sept. 14, 2017. Media are welcome.

WHERE: Construction site of Gateway North Apartments, 700 Washington St., Lynn, MA 01901.

WHO: More than 75 construction workers on the new Gateway North Apartments; public officials; and friends and neighbors.

BACKGROUND

The AFL-CIO Housing Investment Trust and Hub Holdings LLC of Boston, partners in the development of Gateway North Apartments in Lynn, MA, will honor the union construction workers with a lunch showing their thanks.

"Hub Holdings is delighted to have partnered with Neighborhood Development Associates on Gateway North,” said Tom Bauer, Managing Principal of Hub Holdings LLC of Boston. “Throughout the process, the City of Lynn has encouraged the highest quality of work.”

“This improvement at 700 Washington will act as a catalyst for additional re-development between the North Shore Community College and the commercial life of downtown,” Bauer said. “Gateway North residents will have a walkable community featuring transportation access, education, recreation, and commerce.”

Bauer commended Bilt-Rite Construction for retaining the services of top-tier subcontractors including J. DeRenzo Co.; Tara Construction, Inc.; Cruz Electric Inc., CMP Plumbing & Heating, LLC; General Air Conditioning and Heating; Inner City Fire Protection; Silktown Roofing; Marguerite Concrete; and Haywood Baker.

The new residences are scheduled to open in Spring 2018.

Currently the building is at a construction milestone, with the beginning of roof installation, windows being installed, and the envelope being closed up. Marketing of the apartments will begin in the near future by Peabody Properties.

Bauer said Gateway North Apartments are consistent with today’s efforts to meet the challenges of cities. “Cities should have big visions to meet today’s challenges, and people are moving to cities for opportunity,” said Bauer. “Creating Gateway North development has been a rewarding experience because of the team and the workers involved. We believe living at 700 Washington will bring joy and opportunity to the residents.”

Gateway North Apartments is a 71-unit market-rate and affordable rental apartment complex, to be built at 700 Washington St. The building will be five floors in height and will have 18 one-bedroom units, with 46 of two bedrooms, and seven of three bedrooms. The project’s cost is $31 million.

Owned by Washington Gateway LLC and being developed by Washington Gateway Development LLC, it will feature about 2,000 square feet of commercial space. The building will be five floors in height and will have 18 one-bedroom units, with 46 two-bedrooms, and seven three-bedrooms.

Located across from North Shore Community College, the Gateway Residences on Washington were awarded funding through a competitive state process to make the project possible. Washington Gateway LLC is owned by partners Neighborhood Development Associates and Hub Holdings LLC.

The project is a transit-oriented development created in response to the Washington District Master Plan, initiated by Lynn Housing and Neighborhood Development, funded by the state Department of Housing and Community Development, and executed by Sasaki Associates. Lynn Housing and Neighborhood Development will manage the development upon completion.

Construction began in 2016. Assisting the owners and development managers have been City of Lynn officials, the North Shore Building Trades Council, and Lynn Housing and Neighborhood Development. Construction and permanent financing are provided by the AFL-CIO Housing Investment Trust through the Mass Housing Finance Agency.

ABOUT HUB HOLDINGS LLC

Hub Holdings LLC of Boston, founded in 2012, seeks to create significant long-term value by recognizing opportunity in the responsible use of land. Its motto is: “Simplify the complex. Collaborate. Exceed user expectations.” Hub Holdings’ core market is Eastern Massachusetts. The company develops product in response to demand and believes that economic growth in the Boston metropolitan area reflects the stability of established companies and the emergence of many new firms in financial services, health care, knowledge creation, and technology. For more, please go to www.hubholdings.com .