A simple walk or drive through Melrose will leave you wondering – Is there really a recession going on? One would think that the economy is in full boom with the number of construction sites and cranes visible throughout this small village. And now another development is set to begin on one of the larger remaining vacant lots in Melrose Commons section of the area.
The Briarwood Oganization, the developer behind the nearby Solara with 160 cooperative apartments, has been chosen to develop the $90 million dollar, 260 mixed-income/mixed use project in conjunction with CPC Resources and The Bridge. Briarwood’s proven track record in The Bronx with the success of The Solara where over 4,000 applicants applied for an opportunity to purchase one of 160 co-op apartments, is sure to construct another winner.
The 260 unit project, which has yet to be named, will consist of middle income as well as low income units and continue to add to area’s growing stock of QUALITY affordable housing. The project has been designed for LEED Silver Certification and will add an additional 27,500 of retail space to Melrose. According to James Riso, Briarwood principal, “Briarwood’s goal is to constantly have several projects under way regardless of how the economy is faring.”
Stay tuned to more updates on this wonderful addition to the neighborhood as we will continue to provide you with exclusive info on the development of the project, ground-breaking ceremonies as well as architectural renderings as they become available.
A big Melrose THANK YOU is in order for The Briarwood Organization, CPC Resources and The Bridge for this wonderful soon-soon-to-be new addition to our great neighborhood.