The NRP Group has broken ground on Grayson Lofts at Wakefield Station, a 184-unit community in Wakefield, Mass. The property, which had been used for office space, is being redeveloped in partnership with World Premier Investments, with construction financing secured by CIBC. Completion is scheduled for 2021.
The existing three-story building is divided into two sections: One side will retain its office use, while the other will be repurposed. NRP will build three additional stories on top of the existing structure.
Upon completion, the property will comprise one-and two-bedroom units. Planned amenities include two outdoor kitchens, package concierge and a fitness center. The community will also feature 300 parking spaces.
Located at 178 Albion St., the development is within 1 mile of Interstate 95 and the surrounding area offers several retail and dining options. The project is also 1 mile from Lake Quannapowitt, a popular spot for walking, running, boating and other recreational activities.
This month, NRP started construction on a 390-unit luxury community in Tysons Corner, Va. The development is scheduled for completion in 2022.
