Dakota Partners Closes Three Deals

Dakota Partners recently closed on three projects: Brookside Terrace in East Greenwich, RI; Stockbridge Landing in Scituate, MA; and Depot Village in Hanson, MA.

Brookside Terrace is being built in two phases on the currently vacant 17.2-acre site. Phase I features the construction of two three-story residential buildings with 48 total units and a single-story clubhouse/community building and is expected to be completed in January 2021. Phase II includes 48 affordable rental units in two additional three-story apartment buildings, which is expected to be completed in the fall of 2021. All of the buildings will be garden-style, walk-up structures and feature a mix of one- and two-bedroom units. The clubhouse will serve as a community space – complete with fitness center, event space and meeting rooms. Total development cost, including infrastructure investments, is $30 million for both phases.

Stockbridge Landing is comprised of 68 two-bedroom townhouse-style condominiums. Fifty-one units are being sold at market rate, between $399,000 and 699,000, and 17 will be entered into a housing lottery for workforce families and sold at $298,000. The thoughtfully designed townhouses each have their own aesthetic appeal with seven different floorplans available to choose from. Units also feature hardwood floors, Andersen Energy Star-rated windows, stainless steel appliances and a Heat & Glo gas fireplace with stone tile surround and a wood mantel. There will be optional finish upgrades available.

Conveniently located near the MBTA commuter rail stop, Depot Village will feature a total of 48 affordable rental units in one large building when completed in 2021. The development consists of 12 one-bedroom apartments, 31 two-bedroom apartments and five three-bedroom apartments. The community is also being built to meet an efficient energy-use standard known as Passive House, a performance-based certification that focuses on dramatic reduction of energy use for heating and cooling.