Boston Capital has plans to invest in Baker Brook Apartments, a 70-unit development for seniors in Lunenburg, Mass. The general partner is Great Bridge Properties.
Baker Brook Properties will serve seniors age 55 and older earning 80 percent or less of the area median income (AMI). Forty-eight units are reserved for seniors earning 60 percent or less of the AMI, and eight units are for seniors earning 30 percent of less of the AMI. Ten percent of the units will feature a preference toward homeless populations.
Located on nearly four acres, the development will feature 62 one-bedroom and eight two-bedroom units. Baker Brook Apartments is the final phase of Great Bridge Properties' Tri-Town Landing development, which includes three completed apartment communities for families, two of which Boston Capital syndicated.
“Baker Brook Apartments marks our 13th investment with our partners Chris Davies and Bill Caselden and the folks at Great Bridge Properties,” sai
