Funding has been secured for the construction of a new building at the River’s Edge apartment, office and retail complex in Medford, MA. The Boston Business Journal reported that an affiliate of Dallas-based Criterion Development Partners registered a $64-million mortgage for a parcel that will add 224 apartments at the complex.
The site, which runs alongside the Malden River off Route 16, already has two residential buildings and two office buildings. The developer that built the earlier phases won’t be involved in the newest one, according to the Business Journal. Preotle, Lane & Associates sold the parcel for the planned new building to a Criterion affiliate.
The project will be Criterion’s third in the Boston area, joining the 205-unit Arris development in Somerville and Lore, a 250-unit project in Salem. The first two residential buildings at River’s Edge opened in 2009 and 2016, and the office buildings in 2009 and 2019.
Rendering courtesy of Gensler.
The post Dallas-Based Criterion to Add More Apartments at Medford’s River Edge Mixed-Use appeared first on Connect CRE.