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**BXP Breaks Ground on 312-Unit Residential Project in Lexington, MA with Northwestern Mutual as Investor**
BXP has officially commenced construction on a new 312-unit residential development at 17 Hartwell Avenue in Lexington, Massachusetts. The project marks a significant step in transforming the Hartwell Avenue corridor into a mixed-use district.
Developed on a 5.25-acre site, the property was acquired by a joint venture between BXP and Northwestern Mutual for $21.84 million on June 27. As part of the partnership, Northwestern Mutual holds a majority interest and has provided a $98.7 million construction loan. BXP retains a minority interest and will lead the development as project manager.
The 17 Hartwell Avenue project is part of a broader vision to reimagine Hartwell Avenue as a vibrant, multi-use neighborhood. It is also notable for being the first major residential project in Lexington approved under the MBTA Communities Act, a Massachusetts law designed to promote transit-oriented housing.
“We are proud to work with Northwestern Mutual to bring housing to Lexington in a way that aligns with the community’s long-term goals,” said Bryan Koop, Executive Vice President for the Boston Region at BXP. “As the first major residential project approved under the MBTA Communities Act in Lexington, 17 Hartwell Avenue represents an important step forward in expanding housing access, sustainability, and livability in the region.”
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