|By Marketwired .||
|November 20, 2012 12:37 PM EST||
ARLINGTON, MA -- (Marketwire) -- 11/20/12 -- Wood Partners LLC announces the opening of Phase 1 of the 116-unit Alta Brigham Square community located in the heart of the city's vibrant downtown center. Phase 1, which consists of 36 apartments, has opened.
The development occupies the former site of the long-vacant Brigham's Ice Cream factory in a neighborhood that's become a destination for walkers and bicyclists.
Pre-leasing of the units has been under way, and Phase 2, consisting of 80 units, is on track to open in January 2013.
The four-story community at 30-50 Mill St. is a half a block from Massachusetts Avenue and Arlington Center, the city's bustling main street that includes town hall, the public library and an eclectic mix of restaurants and shops.
Downtown Boston is a 20-minute commute via nearby transit, and the popular Minuteman Bikeway is just steps from Alta Brigham Square.
"Transforming a blighted area into a beautiful amenity in this part of town has been exciting," said Rick Dickason, Wood Partner's regional director of development for New England. "It's gratifying to provide a luxury rental option not otherwise available in Arlington Center."
The development consists of 18 studios (598 square feet); 35 one bedroom units (719-915 square feet) and 63 two-bedroom units (1,013 to 1,178 square feet). Kitchens feature attractive, durable wood-look flooring, espresso wood cabinets and granite counters; bedrooms come with roomy walk-in closets; and baths feature oversized garden tubs with tile surrounds, wood-look flooring, espresso wood cabinets and cultured marble vanities.
Common areas include an expansive fitness center with a large area for active gaming; clubhouse with a media room, pool table lounge and café-style seating and a coffee bar; an exclusive outdoor area with built-in grills, seating and a fire pit; and a roof deck with views to the Minuteman Bikeway, Alta Brigham Square retail plaza, and long-range views of the Boston skyline.
The eco-friendly units, which exceed baseline energy-efficiency standards by 20 percent, will lease at $2.85 per square foot. Pursuant to Arlington bylaws, 15 percent of the units are reserved for families earning 60 percent or less of the area median income.
The 135,000-square-foot project incorporates approximately 3,500 square feet of ground-level retail space, reserved for small retail or medical offices. In addition to 84 surface parking spaces, 89 garage-level spaces will be available.
Wood Partners, the largest multifamily housing developer in the nation, bought the four-acre site for $5.6 million from Cambridge Savings Bank, which foreclosed on the property in August 2008, shortly after the ice cream factory stopped production when the Brigham's name and recipes were sold to a competitor. The obsolete 85,000-square-foot office and warehouse facility was demolished in the fall of 2011.
Dickason said the site's potential was obvious "because it is located in a well-established infill location in a very stable market with extremely high barriers to entry. It is nearly impossible to find available land of sufficient size to justify apartment development within walking distance to neighborhood amenities like Arlington Center," he said.
Brigham Square is the third acquisition by Wood Partners in the Boston area over the past 22 months, with its other projects in Stoughton and Melrose, Mass.
The community is adjacent to the popular Minuteman Bikeway, a former rail line converted to a pathway that area residents use for both recreation and commuting. It is one of the most heavily utilized rail trails in the country with about two million trips per year. The town of Arlington plows its section of the bikeway for year-round use.
Alta Brigham Square's retail plaza area is designed to interface with the bikeway, enabling bicyclists and walkers to pull off and enjoy seating and landscaping.
"It's an open, attractive common area that we are certain will be well-received by bikeway users," said Dickason.
Low vacancy rates, a diversified economy, and steady job growth fuelled by nearby Harvard University and the Massachusetts Institute of Technology -- along with numerous biotech and high-tech companies linked to these institutions -- ensure robust demand for the apartments that Wood Partners expects to remain steady through virtually any market cycle, Dickason said.
Cushman & Wakefield's Capital Markets Group, including Simon Butler, Biria St. John, Michael Byrne and John McLaughlin, exclusively represented the seller, CSB Transaction LLC and procured the buyer W.P. East Acquisitions, LLC, an affiliate of Wood Partners of Atlanta, Ga.
The architect is Cube 3 Studio of Lawrence, Mass., and Callahan is the general contractor. Financing is provided by Cambridge Savings Bank.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In 2011, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Wood Partners has offices in 15 major markets nationwide including Atlanta, Baltimore, Boston, Charlotte, Dallas, Delray Beach, Denver, Houston, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle and Washington, D.C. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com.
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Oct. 27, 2016 07:30 AM EDT Reads: 1,921
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
Oct. 27, 2016 07:30 AM EDT Reads: 1,608
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Oct. 27, 2016 07:00 AM EDT Reads: 5,008
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Oct. 27, 2016 07:00 AM EDT Reads: 4,930
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 27, 2016 06:45 AM EDT Reads: 1,057
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
Oct. 27, 2016 06:45 AM EDT Reads: 1,087
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 27, 2016 06:00 AM EDT Reads: 1,034
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 27, 2016 05:45 AM EDT Reads: 1,258
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 27, 2016 05:30 AM EDT Reads: 1,213
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Oct. 27, 2016 05:15 AM EDT Reads: 1,138
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 27, 2016 05:15 AM EDT Reads: 983
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 27, 2016 04:45 AM EDT Reads: 454
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 27, 2016 04:45 AM EDT Reads: 2,880
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Oct. 27, 2016 04:30 AM EDT Reads: 482
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 27, 2016 04:00 AM EDT Reads: 1,362