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Strategic Land Ventures to Build Mixed-Income Projects in Winchester with $85M from CSB
Needham, MA-based Strategic Land Ventures has received loans totaling $84.5 million from Cambridge Savings Bank to finance the construction of two apartment communities in Winchester, MA.
The real estate properties on Cambridge Street and River Street will include 61 affordable housing units in addition to a variety of market-rate options.
“With housing advocates believing that Massachusetts needs to build nearly 200,000 units over the next decade to stabilize rent and home prices, our bank is committed to working with partners like SLV who also recognize that need,” said Kevin Teller, SVP, commercial real estate officer at CSB. “Supporting 40B projects to promote responsible housing growth in our communities is an honor and a privilege.”
CSB in July supplied The Michaels Organization with a $61.7-million loan to support the construction of a multifamily with a mix of market rate and affordable units in Dorchester, MA.
- ◦Development
- ◦Financing
