Milton, MA – The Holland family recently unveiled their latest residential housing project in Milton. Located along Route 28 at 701 and 703 Randolph Ave., the project is set to transform just under 8 acres of land into a 90-unit apartment complex. Construction is currently underway.
The project is spearheaded by brothers Paul, Joseph, and Michael Holland. South Shore Bank closed on the construction-to-permanent loan to finance the construction of the mixed-income development consisting of two buildings of 60 and 30 units. Of the units, 25% will be affordable at 80% AMI.
“The funding for initiatives of this nature will ultimately create new housing opportunities and deliver meaningful improvements to the quality of life within our community,” said Stephen DiPrete, chief commercial officer at South Shore Bank. “Collaborating with the Hollands on this project to help bring it to fruition exemplifies our core mission. Considering the ongoing demand for residential apartment units in Milton and the pressing need for affordable housing as part of broader community development, we are particularly proud to be part of this important initiative.”
“This represents a mutually beneficial partnership,” stated Jim Dunphy, CEO of South Shore Bank and president of Charlesbridge, MHC. “We are positioned to address a significant community need, support our valued clients, the Hollands, and have the financial liquidity and capability to fund initiatives such as this.”…