MARLBOROUGH, Mass., Nov. 14, 2023 /PRNewswire/ — National multifamily real estate development leader Wood Partners has officially announced the start of construction on Alta French Hill, the company’s latest upscale residential community, located in Marlborough, Massachusetts. Pre-leasing opportunities are set to commence in 2024, and the community is scheduled to welcome residents in February 2025.
Situated at 303 Lincoln Street and neighboring the Assabet River Rail Trail, Alta French Hill will provide residents with convenient access to Route 20 and I-495, allowing for easy travel throughout all parts of the city and the 495 corridor. The property’s prime location will also offer seamless access to a variety of everyday conveniences, such as Hannaford Supermarket, Starbucks, Dunkin Donuts, Walgreens, Planet Fitness, and Marlborough’s favorite shopping and dining destination, Solomon Pond Mall, featuring numerous stores and restaurants, and the Apex Entertainment Center, which offers 80,000 square feet of game and entertainment space. Additionally, residents of Alta French Hill will find themselves within walking distance to a diverse range of retail, dining, and entertainment options.
“Massachusetts has a housing shortage and we need new housing of all types,” said Ed Augustus, secretary of the Executive Office of Housing and Livable Communities. “The 276 apartment homes in this collaborative enterprise by Wood Partners, Marcus Partners and the city of Marlborough will provide a much-needed boost to housing in a key area of the city. The inclusion of 28 affordable units and use of a variety of sustainable and green technologies also exemplify a smarter way to build, while at the same time helping Marlborough comply with the MBTA Communities Law.”
Alta French Hill’s strategic location guarantees residents convenient proximity to a plethora of prominent employers in the vicinity. With easy access to major companies such as Quest Diagnostics, G.E. Healthcare, Raytheon, Boston Scientific, TJX Companies, Hologic, Sunovion, and more, residents will find themselves well-connected to the thriving employment landscape of the region.
“Backed by construction lender Eastern Bank and equity partner Marcus Partners, Alta French Hill represents a key milestone in our commitment to providing new and exciting housing options in Boston’s MetroWest. Following successes like Alta Union House in Downtown Framingham and Alta Oxbow in Wayland, this project strategically fills a crucial gap in Marlborough,” says Jim Lambert, Managing Director and Partner for Wood Partners. “Offering upscale housing within walking distance to Downtown sets us apart from previous commuter-centric developments along I-495, reflecting our dedication to enhancing the residential landscape in MetroWest.”
“This project reflects our commitment to partner with local communities and the Commonwealth to create critically needed housing,” said Levi Reilly, Principal and Head of Development for Marcus Partners. “At the same time, we appreciate the opportunity to do so in a meaningful way, using new technology to advance sustainability goals.”
Once construction is complete, Alta French Hill will offer 276 apartment homes, encompassing a diverse range of custom-designed floor plans, including one-bedroom, one-bedroom with den, two-bedroom, and three-bedroom apartments. Each residence will display an array of attractive features and materials, such as modern stainless-steel appliances, kitchen countertops crafted from quartz, complete in-unit washer and dryer sets, and wood-style flooring in both the kitchen and living room areas.
Community residents can also enjoy a range of shared amenities, including a state-of-the-art fitness center, resident lounges, a tech lounge, and two beautifully landscaped courtyards with a swimming pool, games, grilling areas, and a dog park. Complementing these features, the property showcases nearly 10,000 square feet of retail space, inclusive of dedicated work-from-home offices. Looking ahead, Wood Partners intends to develop a 22-space surface parking lot and amenity building — both to be owned and operated by the City and accessible for public use.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York and the Mid-Atlantic. The firm focuses on strategic and opportunistic investment strategies across industrial, multifamily, life science, and other property types where it can create value and maximize risk-adjusted returns. Marcus Partners and its affiliates own, control, operate or are developing 7M+ square feet of real estate and 1,700+ multifamily units. For more information, please visit www.marcuspartners.com
About Wood Partners
Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 95,000 multifamily homes with a combined capitalization of $20 billion. The company currently owns 80+ properties across the United States representing more than 25,000 units, as well as providing property management for an additional 55 third-party assets representing 14,000 units. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For four years running, Wood Partners has ranked No. 1 nationally for online reputation in the J Turner ORA Power Rankings (Division III). For more information, visit woodpartners.com.
Contact: Donya Mansoorian, [email protected]
SOURCE Wood Partners
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