A 190-unit apartment complex is planned in Medway. Image courtesy of Toll Brothers

A new 190-unit apartment complex is planned in Medway, with a mix of market-rate and affordable units planned.

Hathon will consist of 142 market-rate units and 48 affordable units in four and five stories of wood-frame construction with surface parking on 12.3 acres on Main Street.

Pennsylvania-based Toll Brothers Apartment Living, a subsidiary of Toll Brothers Inc., and New York-based HQ Capital Real Estate formed a joint venture for the development. PNC Bank provided a $45 million construction loan facility. The debt and equity were arranged by Toll Brothers’ in-house finance department. Toll Brothers Apartment Living will manage the development, marketing and asset management of the project.

“Hathon presents the opportunity for us to partner with a best-in-class developer to deliver relatively affordable luxury apartments to a supply-constrained market with fantastic demographics and stable employment,” HQ Capital’s vice president of investment management Kristi Nootens said in a statement. “While this is our first project with Toll Brothers Apartment Living, we look forward to building on this relationship both within the Boston MSA and in other target markets across the country.”