Multi Residential

Salem Gets New Multifamily Development

Boston – Urban Spaces, a Cambridge-based real estate company, has invested around $30 million in the BRIX development in Salem, Mass., a mid-sized residential buildout in the downtown of the historic city just north of Boston.

BRIX is bringing another living option, multifamily condominiums, to an emerging market beyond Boston and its surroundings. The BRIX project was awarded to the joint venture development team of Urban Spaces and Diamond Sinacori through an extensive Request for Proposal (RFP) process run by the City of Salem.

The 110,000sf BRIX condominium development will offer eight one-bedroom units, 44 two-bedroom units, and nine three-bedroom units. The living spaces will range in size from 800sf to 1,700sf each, with prices starting in the mid-$400,000 range.

Along with 61 units, the building will feature high-end amenities for residents, including a tranquil roof terrace designed to foster a sense of community, an adjacent club room, a pet spa for BRIX’s four-legged residents, and a fitness studio. Approximately 3,000sf of restaurant/retail space will occupy the building’s ground floor.

The designer on the project is Tise Design Associates of Newton, and Groom Construction of Salem is the general contractor. BRIX is slated to be finished this summer.