Rockland Trust announced $8 million in total financing for APW LLC & APV Realty LLC for the development of Arboretum Place in Boston’s Jamaica Plain neighborhood.
The credit facility includes a $2.1 million construction loan, and $5.9 million in construction financing that was converted to a permanent mortgage through Rockland Trust’s New Markets Tax Credit program.
The development totals 40,000-square-feet of mixed-use space at 3815 and 3840 Washington St. in Jamaica Plain. Tenants include Harvest Co-op Market, Boston Cat Hospital, Summer Search, Massachusetts Society for the Prevention of Cruelty to Children, and Dane Street LLC.
Construction on Arboretum Place, formerly empty lots, began in October 2011 and was completed in early 2013. In addition to providing local residents with a grocer, an animal hospital, social services providers, and other benefits, the development created 60 temporary construction jobs and 195 permanent positions with tenants.
