Cambridge Savings Bank Supports the Redevelopment and Expansion of the Innes Apartments as Lead Bank in $93 Million Construction Loan
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Thursday, December 8, 2022
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Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA.
Key Points:
- Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA.
- The mixed-income redevelopment will also include onsite amenities for residents and much needed ground-floor retail space to activate the Central Avenue Smart Growth area.
- It has been a long journey to get to this point in the process and our partners at Cambridge Savings Bank have played a huge role in making it all possible.
- Marcus Partners and its affiliates own, operate and are developing 6M+ square feet of real estate and 1,500+ multifamily units.