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Rockland Trust and Newburyport Bank have provided $30.6 million to MINCO Development for the construction of an energy-efficient multifamily in Newburyport, MA.

MINCO Secures $31M to Start Passive House Multifam in Newburyport

Rockland Trust and Newburyport Bank have provided a $30.6-million loan to MINCO Development Corporation for the construction of an energy-efficient Passive Housing residential development in Newburyport, MA.

Newburyport Crossing at Three Boston Way will be one of the few Passive House multifamily projects designated in the Northeast, which means that the building itself is certified to deliver significantly less energy for space conditioning and over 60% less energy overall by leveraging natural light and highly efficient HVAC systems.

Three Boston Way will consist of 84 multifamily units with an underground parking garage. Twenty-five percent of the units are designated for affordable Chapter 40R “Smart Growth” housing.

MINCO began a collaboration with the City of Newburyport over 10 years ago to develop a Smart Growth overlay district adjacent to the Newburyport MBTA station with the intent to create a neighborhood with distinctive, attractive and compact designs to provide a strong sense of community.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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