The Procopio Companies has broken ground on a new, 22,000 square-foot luxury, mixed-use development in Winthrop.
Located at 10 Somerset Ave., The Somerset is a boutique multifamily property that will have 29 residences and 1,119 square feet of ground-level retail space. The site is tight, requiring zero-lot-line construction in the city’s business district, according to a press release. Khalsa Design is the project’s architect.
“Khalsa Design’s feedback, and close collaboration with our construction team throughout the design process, was pivotal given the zero-lot-line construction required at the property,” Bryan Vitale, Procopio’s vice president of development said. “Our construction financing from North Shore Bank will allow us to move rapidly to develop a luxury multifamily project with a downtown, urban feel in one of Boston’s most desirable beach communities.”
The development received a $7.7 million loan from North Shore Bank, which it secured in September. The project is expected to be completed in July 2022.
Looking for one or two bedroom units and would like to get an idea of costs with parking. Thank you