Multi Residential

Citizens Bank Funds Apartment Complex

North Andover, MA – Citizens Bank, located in Boston, recently announced that it provided a $31.9 million construction loan to North Andover Holdings LLC, a joint venture between Woburn-based The Dolben Company and North Andover-based MINCO Development Corporation, to support the development of the 196-unit Berry Farms Apartments project.

Berry Farms Apartments will feature 196 luxury apartment homes on a 26-acre site at 10 Berry St. in North Andover. The project was permitted under Massachusetts Chapter 40B, and consequently, 25% of the apartments will be offered at affordable rates to qualified residents. The community will consist of four residential apartment buildings and a freestanding clubhouse.