Project Experience


  • Frost Terrace

    Redevelopment of 1791 Mass Ave into 100% Affordable Family Housing

    1791 Massachusetts Avenue, 1 and 2 Frost Terrace, Cambridge, MA 02140
    www.1791massave.com

    • # of Homes: 40
    • Year Redeveloped: Currently in predevelopment, zoning approvals received in January 2018, funding approved in July 2018
    • Total Development Cost: To-be-determined
    • Developer: Capstone Communities LLC and Hope Real Estate Enterprises LLC
    • Capstone Role: Developer
    • Financing:
      • City of Cambridge Affordable Housing Trust Fund
      • Additional local, state and federal subsidies are anticipated
      • Construction and permanent debt financing to-be-determined


    Frost Terrace

    Proposed 100% Affordable Family Housing in Porter Square, Cambridge


  • Station Lofts

    Historic rehabilitation of a shoe, heat press, and sports equipment factory

    124 Montello Street, Brockton, MA 02301
    www.stationloftsapts.com

    • # of Homes: 25
    • Year Redeveloped: 2013
    • Total Development Cost: $9,100,000
    • Developer: Capstone Communities LLC
    • Property Manager: Peabody Properties, Inc.
    • % Affordable: 56%
    • Construction: Keith Construction, Inc.
    • Architecture: Prellwitz/Chilinski Associates
    • Legal: Nixon Peabody LLP
    • Financing:
      • The Property and Casualty Initiative, LLC Construction Loan
      • Massachusetts Housing Partnership Permanent Loan
      • Massachusetts Historic Rehabilitation Tax Credits
      • Federal Historic Rehabilitation Tax Credits
      • Federal 4% Low Income Housing Tax Credits
      • Massachusetts Commercial Area Transit Node Housing Program Funding
      • Massachusetts Housing Stabilization Funding
      • Massachusetts Affordable Housing Trust Funding
      • MassDevelopment Tax-Exempt Bond Financing
      • MassDevelopment Brownfields Redevelopment Funding
      • City of Brockton HOME Funding
      • Massachusetts Housing Investment Corporation Federal Tax Credit Equity Syndicator

    Station Lofts

    25 Mixed-Income Apartment Homes


  • Port Landing

    New construction, 100% affordable family rental housing in Area 4/Kendall Square

    131 Harvard Street, Cambridge, MA 02139

    • # of Homes: 20
    • Year Redeveloped: 2016
    • Total Development Cost: $9,000,000
    • Developer: Capstone Communities LLC and Hope Real Estate Enterprises LLC
    • Capstone Role: Developer
    • Construction: Keith Construction, Inc.
    • Architecture: Prellwitz/Chilinski Associates, Inc.
    • Legal: Nixon Peabody LLP
    • Financing:
      • Cambridge Trust Company Construction and Permanent Loan
      • Federal 4% Low Income Housing Tax Credits
      • Massachusetts Commercial Area Transit Node Housing Program Funding
      • Massachusetts HOME Funding
      • Massachusetts Affordable Housing Trust Funding
      • City of Cambridge Affordable Housing Trust Funding
      • City of Cambridge HOME Funding
      • MassDevelopment Tax-Exempt Bond Financing
      • Massachusetts Housing Investment Corporation Federal Tax Credit Equity

    Port Landing

    20 Affordable Apartment Homes


  • William W. Kimball House Apartments

    Historic rehabilitation of 1850 house

    13 Winter Street, Arlington, MA 02474
    www.13winterstreet.com

    • # of Homes: 6
    • Year Redeveloped: 2014
    • Total Development Cost: $2,200,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Massachusetts Historic Rehabilitation Tax Credits
      • Federal Historic Rehabilitation Tax Credits
      • Needham Bank Debt

    William W. Kimball House Apartments

    6 Historic Apartment Homes


  • Phillip Munroe House

    Historic Rehabilitation of 1887 Home

    31 Maple Avenue, Cambridge, MA 02139
    www.31mapleave.com

    LEED Silver
    2011 Massachusetts Historical Commission Preservation Award Recipient
    2011 Cambridge Historical Commission Preservation Award Recipient
    2012 Preservation Massachusetts Paul E. Tsongas Award Recipient

    • # of Homes: 3
    • Year Redeveloped: 2010
    • Total Development Cost: $2,200,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Massachusetts Historic Rehabilitation Tax Credits
      • Federal Historic Rehabilitation Tax Credits
      • Needham Bank Debt

    Phillip Munroe House

    3 Historic Apartment Homes


  • 26 Hardwick Street Condominiums

    Renovation of 3-Family Home

    26 Hardwick Street, Cambridge, MA 02143

    • # of Homes: 3
    • Year Redeveloped: 2018
    • Total Development Cost: $2,500,000
    • Developer: Capstone Communities Development LLC
    • Capstone Role: Developer
    • Financing:
      • Cambridge Trust Company Debt

    26 Hardwick Street Condominiums

    3 Condominium Homes


  • Second Street Apartments

    Renovation of 6-Apartments in Kendall Square

    12-14 Second Street, Cambridge, MA 02141

    • # of Homes: 6
    • Year Redeveloped: 2017
    • Total Development Cost: $3,200,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer, Property Manager and Construction Manager
    • Financing:
      • Cambridge Trust Company Construction and Permanent Loan

    Second Street Apartments

    6 Apartment Homes


  • 22-24 Clary Street Apartments

    Renovation of 6-Apartments in Inman Square

    22-24 Clary Street, Cambridge, MA 02139

    • # of Homes: 6
    • Year Redeveloped: 2018 (renovation to begin Fall 2018)
    • Total Development Cost: $3,800,000
    • Developer: Capstone Communities Development LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Dedham Institute for Savings Construction and Permanent Loan

    22-24 Clary Street Apartments

    6 Apartment Homes


  • Suffolk Street Apartments

    Renovation of 4-Unit Central Square Apartment Building

    16-18.5 Suffolk Street, Cambridge, MA 02139
    www.16-18suffolkstreet.com

    • # of Homes: 4
    • Year Redeveloped: 2014
    • Total Development Cost: $1,950,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Needham Bank Debt

    Suffolk Street Apartments

    4 Apartment Homes


  • Newton Single Family Home

    Newton Highlands, MA 02461

    • # of Homes: 1
    • Year Redeveloped: 2015
    • Total Development Cost: $1,750,000
    • Developer: Capstone Communities Development LLC
    • Capstone Role: Developer
    • Financing:
      • Needham Bank Debt

    Newton Single Family Home

    Historic renovation of single family home


  • Morrison Avenue Apartments

    Renovation of 3-Family Davis Square Home

    74 Morrison Avenue, Somerville, MA 02144
    www.74morrisonave.com

    • # of Homes: 3
    • Year Redeveloped: 2015
    • Total Development Cost: $1,500,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer, Property Manager and Construction Manager
    • Financing:
      • Needham Bank Construction Loan

    Note: 74 Morrison Avenue was sold by an affiliate of Capstone Communities in 2017


    Morrison Avenue Apartments

    3 Apartment Homes


  • Riverside Place Apartments

    Renovation of 2-Family Cambridgeport Home

    5-7 Riverside Place, Cambridge, MA 02139
    www.5-7riversideplace.com

    • # of Homes: 2
    • Year Redeveloped: 2014
    • Total Development Cost: $1,100,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Needham Bank Debt

    Riverside Place Apartments

    2 Apartment Homes


  • 96 Jackson

    Renovation of single family home

    96 Jackson Street, Cambridge, MA 02140

    • # of Homes: 1
    • Year Redeveloped: 2013
    • Total Development Cost: $785,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer
    • Financing:
      • Needham Bank Debt

     


    96 Jackson

    Single Family Home


  • Dickinson Street Apartments

    Renovation of 2-Family Inman Square Home

    18-20 Dickinson Street, Somerville, MA 02143
    www.18-20dickinsonstreet.com

    • # of Homes: 2
    • Year Redeveloped: 2012
    • Total Development Cost: $600,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Needham Bank Debt

    Note: 18-20 Dickinson Street was sold by an affiliate of Capstone Communities in 2016


    Dickinson Street Apartments

    2 Apartment Homes


  • Fayette Park Apartments

    Renovation of 3-Family Home

    4 Fayette Park, Cambridge, MA 02139
    www.4fayettepark.com

    • # of Homes: 3
    • Year Redeveloped: 2012
    • Total Development Cost: $990,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer and Property Manager
    • Financing:
      • Needham Bank Debt

    Note: 4 Fayette Park was sold by an affiliate of Capstone Communities in 2018


    Fayette Park Apartments

    3 Apartment Homes


  • Oak Street Condominiums

    Renovation of 2-Family Home

    36 Oak Street, Somerville, MA 02143

    • # of Homes: 2
    • Year Redeveloped: 2011
    • Total Development Cost: $1,000,000
    • Developer: Capstone Communities LLC
    • Capstone Role: Developer
    • Financing:
      • Needham Bank Debt

    Oak Street Condominiums

    2 Condominium Homes