Image courtesy of Cornerstone Realty Capital

A 51-unit luxury apartment project next to the Exxon Mobile petroleum terminal in Everett has landed construction financing.

The 6-story building, which sits close to an area Encore Boston Harbor casino owner Wynn Resorts owns and hopes to transform into an entertainment district and to busy bus lines on Broadway, will repurpose the brick shell of the Exxon terminal’s former office building, adding three more stories on top.

The units will be entirely one-bedroom, one-bathroom apartments ranging between 460 square feet and 895 square feet. Cornerstone Realty Capital, which arranged the $10 million, fixed-rate construction loan, described the project as a “luxury” property which will feature granite countertops, in-unit laundry and and a stainless steel appliance package. Amenities will include an outdoor lounge area with firepit, a fitness center and a rooftop deck.

“The perspective on this neighborhood of Everett, the closest to the city, due in large part to the keystone development of the Encore Casino, has quickly emerged as one of the hottest real estate markets within the Boston Metropolitan Area,” Cornerstone Vice President Andrew Saccone said in a statement. “The foresight of the borrower to recognize this trend and his experience in this market and the surrounding towns fostered a competitive lending environment that resulted in loan terms custom-tailored to the needs of this development.”