A former textile mill-turned-office complex in Wakefield is set to be converted into transit-oriented housing.

The NRP Group has broken ground on Grayson Lofts at Wakefield Station, a 184-unit apartment complex located 200 feet from the Wakefield MBTA commuter rail station.

NRP Group is partnering with Irvine, California-based World Premier Investments on the project, which received $42 million in construction financing from CIBC in March.

NRP, which is headquartered in Cleveland with local offices in Burlington, acquired the property at 178 Albion St. in December 2018 for $11 million. A three-story addition will be built atop the eastern side of the three-story former mill building, and a central courtyard will be converted into amenity space including outdoor kitchens, lawn games, seating and drink rails,

The loft-style apartments will feature brick walls, concrete floors and blake matte fixtures. Units will average 833 square feet and 15 percent are reserved as affordable housing.

The western side of the complex, which is owned by Taurus Investment Holdings of Boston, will remain office space. An existing parking garage will reserve 300 parking spaces for Grayson Lofts residents.

“Repurposing and renovating an old mill building adjacent to public transit was a prime opportunity for us. The building has great bones and will lend itself to a project that fits seamlessly within the urban fabric of the town,” Carolyn Mendel, vice president of development in Boston for NRP Group, said in a statement.

$42M Office-to-Residential Conversion Begins in Wakefield

by Steve Adams time to read: 1 min
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