Mill Creek Announces Groundbreaking of Modera Marshfield
Garden-Style Development Community to Feature 248 Homes
MARSHFIELD, Mass., Sept. 12, 2019 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the groundbreaking of Modera Marshfield, a luxury garden-style community located in the seaside town of Marshfield.
Located midway between Boston and Cape Cod on the South Shore, Modera Marshfield will consist of 248 townhome and flat-style apartment homes spanning 14 buildings. The community will feature spacious layouts, offer prime access to a variety of beaches and quick connectivity to Route 3, a key north-south thoroughfare that serves as the gateway to the Boston metropolitan area. First move-ins are anticipated for late 2020.
"Marshfield offers suburban living at its finest in a charming seaside locale, but doesn't currently offer an abundance of Class A living options," said Lars Unhjem, managing director of development for the Boston area for Mill Creek Residential. "We look forward to helping address that need with Modera Marshfield."
Located just off of Route 139, Modera Marshfield offers direct access via Route 3 to both Boston and Cape Cod. Commuters will also benefit from the Greenbush commuter rail station in the neighboring town of Scituate, commuter boats in Hingham and Hull and multiple commuter bus options.
The community, which is being developed in conjunction with CrossHarbor Capital Partners, a Boston-based investment management firm, will sit within 12 minutes of Marshfield's five beaches and 15 minutes from the Derby Street Shoppes, one of the country's most acclaimed shopping centers that features a combined 65 restaurants and retailers. Within the neighborhood, residents have walkable access to a variety of attractions and conveniences, including a Roche Bros. supermarket, athletic fields and additional shopping and dining options. In addition, all three elementary, middle and high schools are within a mile of the community.
"We believe Modera Marshfield will provide an ideal coastal living experience for both commuters and those who like to stay near home," said Tim Alexander, vice president of development for Mill Creek Residential. "The spacious homes and amenities within the community, coupled with the walkable amenities nearby, will offer an attractive lifestyle for our residents."
Modera Marshfield will offer one-, two- and three-bedroom homes with den layouts available and an expansive average square footage of 1,104 per home. Community amenities will include a resort-style swimming pool, club-quality fitness center, outdoor fireplace and kitchen, playground, dog run and resident clubhouse with leasing offices and package reception.
Apartment interiors will be equipped with a variety of upmarket features, including custom cabinetry, stainless steel appliances, wood-plank style flooring, quartz countertops, large walk-in closets and in-home washers and dryers.
Modera Marshfield will be the seventh community developed by Mill Creek in the greater Boston area.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 16 offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2019, the company's portfolio comprises of 75 communities representing over 19,800 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.
About CrossHarbor Capital Partners
CrossHarbor Capital Partners LLC is a boutique Boston-based alternative investment management firm with more than 25 years' experience investing in core-plus, value-add and opportunistic debt and equity commercial real estate transactions. CrossHarbor has invested in more than $15 billion of commercial real estate on behalf of a diversified and highly regarded community of endowments, foundations, public and corporate pension plans, financial institutions, family offices and sovereign entities.
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SOURCE Mill Creek Residential
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