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First Niagara Financial Puts $25M Toward Norton Housing Development

Jul 21, 2015 | Reprints | Unlock Link | Print

A 15-acre, 188-unit affordable housing project in Norton is one step closer to fruition after securing $25 million in financing from First Niagara Financial Group.

The project at 274 East Main St. will consist of seven three and four-story residential buildings with garages, a heated pool, a game room, a fitness center and a business center, as well as outdoor space. In accordance with Chapter 40B, 25 percent of the units will be designated affordable.

The development is a joint venture between the Braintree-based real estate development firm Campanelli and Thorndike Development, out of Hudson.

“It is First Niagara’s pleasure to work once again with Campanelli and Thorndike on another exciting development project in Massachusetts,” David Yesue, First Niagara’s first vice president of commercial real estate lending.

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