2 Bruner/Cott Projects Win BE+ Green Building Awards

Both Frost Terrace and 808 Memorial Drive were recognized at the 2022 BE+ Green Building Showcase!

The annual showcase was held at the Harvard Science & Engineering Complex on October 27th and celebrated an impressive array of projects that have slowly but surely transformed the built environment and our relationship to it.

Frost Terrace, a 100% affordable housing development in the heart of Porter Square, Cambridge, received the Equity + Inclusion award. According to the judges, “this project provides opportunities for affordable, intergenerational living in infill environments. The engagement with the community through design, and the community created by the development, are both exemplary.”

A new award category this year, 808 Memorial Drive received the Sustainable Building Renovation award. According to the judges, “the project caught the jury’s eyes for its replicability, every city has brutalist apartment buildings that would benefit from a face lift. Renovating while the mixed income residents occupied the building took careful consideration to avoid disrupting occupants, and the resultant energy and water savings are compelling. This project gives us hope that refreshing existing buildings can breathe new life into our communities.”

The annual awards program and celebration is an important marker of progress towards sustainable and regenerative design, construction, and operation of the built environment. The local green building community came together in full force. It was the largest showcase since the national Greenbuild conference was held in Boston in 2017. Attendees included architects, engineers, contractors, developers, owners, facility managers, building users, lenders, suppliers, and others who play a role in shaping the built environment.

Thank you, BE+ for recognizing our work at this year’s Green Building Showcase! And congratulations to all recognized projects and teams!

808 Memorial Drive Project Receives $87m in Financing from Mass Housing

Congratulations to client Homeowner’s Rehab Inc. on receiving $87.2 million in financing for the renovation of the 808-812 Memorial Drive multifamily housing community in Cambridge, Massachusetts. This financing will enable HRI to extend affordability protections by at least 15 years and to make substantial property renovations.

Situated along the Charles River, the buildings house 300 mixed-income apartment units of varying sizes, approximately 38,000 sf of commercial space, and five levels of parking. The project aims to improve tenant comfort and sense of security, while also strengthening the residential community and identity.

MassHousing provided HRI with a $61.5 million tax-exempt construction loan and permanent loan, $24.9 million in taxable and tax-exempt credit equity bridge financing and a $787,763 interest reduction payment (IRP) loan. The project will also use $8.9 million of income during the construction period for development costs. The transaction also involved $36.9 million in equity financing from an allocation of Low-Income Housing Tax Credit tax credits by the Massachusetts Department of Housing and Community Development. The LIHTC tax credits were syndicated by RBC.¹

Bruner/Cott is performing an occupied renovation of two 1970s-era apartment buildings with construction expected to be completed by 2022.

Read the full article on Multi-Housing News.