Past Projects

OceanView at Ellis Square

Beverly, Massachusetts

Ocean View at Ellis SquareOceanView at Ellis Square is a 96 resident senior housing development offering independent, assisted, special care services and a child day care center for over 100 children. This historic restoration of the Old Briscoe School Building won a historic preservation award from the Massachusetts Historical Commission. 11 days prior to closing on the construction financing, OceanView was almost destroyed when a fire gutted the existing structures. The fire left only 30% of the buildings frame in the rear building, and all that remained in the front building was the exterior walls. The development team was able to brace and shore the exterior walls; retain the historic tax credits and preserve the construction funding commitment by adjusting the financing, design and construction documents thereby closing on the construction financing 45 days after the fire. The project team included Keith Construction, EHA Architects, Commonweal Collaborative, Charles River Mortgage, Luberschane Associates and Rene Megnier Structural Engineers.

Eleven days before closing on the construction financing with HUD the Old Briscoe High School is ravaged by a fifteen town fire.

The interior of the building is completely destroyed. The project team works quickly for public safety and preservation.

HUD financing is secured by revising the closing documents and establishing a development plan satisfying all parties involved.

Only the exterior masonry walls remain. Shoring and bracing work commence to preserve the historic tax credits.

While the exterior walls are braced, a new structural steel frame is constructed inside and the masonry is secured.

Restoration of the exterior is moving along with new windows, masonry and slate installed to replicate original materials used.

OceanView at Ellis Square receives an award from the Massachusetts Historical Commission for Preservation.

   
Project Summary: A 96 unit senior housing project delivering independent, assisted and special care services to seniors.
Total Project Cost: $16,500,000
Financing: Historic Tax Credits, HUD 232 Board and Care Mortgage Insurance for credit enhancement to back taxable and tax exempt revenue bonds allocated through Mass Development.
Primary Services: Request for proposal competition, acquisitions, approvals, financing, design, construction oversight and senior housing operations.

 

 

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