million in construction financing for Twenty Two Liberty on
Boston’s Fan Pier
The Seaport District has attracted an immense amount
of attention over recent times with all of the new developments
that are coming to the area. Even most recently we reported about
the future plans of Parcel
K, and the grand opening of the
236-unit Waterside Place in the Seaport District. Now, the
latest headline coming from this ever-changing landscape of the Hub
comes to us as the future development known as Twenty Two Liberty
has just secured a $116 Million loan for its construction through
Wells Fargo Bank.
To be located on Fan Pier, this development, by Joseph
Fallon, will be a 14-story luxury residential tower that will be
comprised of 118-units. Now that financing is in place, this
development joins others in the grand venture between The Fallon
Co., the Massachusetts Mutual Life Insurance Co., and Cornerstone
Real Estate Advisers that will see upwards of $3 Billion invested
in Fan Pier. This area of the Seaport spans 21-acres and nine city
blocks and is officially one of the countrys largest mixed-use
development sites.
At Twenty Two Liberty there will be units ranging from 500-2,900
square feet. These luxury residences will start at about $700,000
($1,400/square foot), and will go up to roughly $2,000/square foot.
At a time when the available inventory is rather low, word that yet
another spectacular residential tower is soon to be built serves as
brilliant news for the city of Boston.
More Information: Boston Business
Journal