Fountain Residential Partners, in a joint venture with HC2 Capital, announces the development of its first housing community in Massachusetts: North 116 Flats.
Located at 653 Amherst Road in Sunderland, MA, the property is located just north of the Town of Amherst and the UMass Campus and will provide 150 units of housing, including 38 units of affordable housing, to the Pioneer Valley and Five College Consortium.
The 18-acre property will consist of 150 units of 1-bedroom, 2-bedroom, and 3-bedroom units and will include an expansive 8,000 SF clubhouse complete with strength training and cardio center, yoga studio, multiple private study rooms, community spaces, and onsite leasing and management.
Outdoor amenities include green space, dog parks, outdoor fireplaces, grilling stations, and sports courts. All units will include stone countertops, faux hardwood floors, and in-unit washer/dryers.
Select units will be offered for lease as fully furnished with queen-sized mattresses and 50-inch screen TVs.
Brent Little, President of Fountain Residential, says,
“Barriers to entry in the Amherst/Sunderland marketplace are extremely difficult. With very little new construction, the affordability of housing in the area far exceeds the national average. North 116 Flats will provide an array of housing for a variety of individuals and households, including UMass Amherst students, families, and the workforce of the Amherst/Sunderland area. We are specifically proud of the 38 units of deed-restricted affordable housing that we will be providing. The design of North 116 Flats reflects the indigenous architecture of the area but will provide updated, modern amenities and new construction quality.”
Read the complete Fountain Residential Press Release.
