TMLLC adds new properties to portfolio

Port Landing

Trinity Management, LLC is the new management company for two properties owned by Capstone Industries, LLC, one in Cambridge and one in Brockton.

Port Landing is a newly constructed, affordable housing development in The Port neighborhood of Cambridge. It is within walking distance of Kendall Square, Central Square, and Inman Square.

Station Lofts is in downtown Brockton, very near our Centre 50 and Enso Flats properties. It is beautifully renovated historic mill at 124 Montello Street and provides 25 mixed income apartments within walking distance of commuter rail and bus transportation.

Port Landing

Map of Cambridge in Lobby

“This is a gorgeous property in a great community,” said CEO Kate Franco. “It sits near MIT and all the great cultural and educational centers of Cambridge. We are thrilled,” she said.

Transit is readily available, as are parks, restaurants, cultural venues, great medical facilities, terrific schools, and much more.

Port Landing was completed in the autumn of 2016, and inside and out it is modern, sleek and cool. Modern lighting, open floor plans, large windows, contemporary kitchens and baths, and garage parking all add to the attractiveness.

Capstone Communities, LLC and Hope Real Estate Enterprises LLC joined forces to build this 20 unit building at 131 Harvard Street, Cambridge. Twelve units are geared to people earning 60 percent of Area Median Income (AMI), 6 units for those earning 50 percent of AMI, and 2 units for those earning 30 percent or less of AMI.

There are 4 one-bedroom units, 13 two-bedroom units, and 3 three-bedroom units. The MassHousing Blog of October 2015 notes that a market-rate three-bedroom apartment rents for about $6,000 a month; the three-bedroom units at Port Landing rent for about one-third of that.

This section of Cambridge was called Area 4 beginning with 1950 census — one of 13 statistical zones delineated by city officials. All the others also had real names, like Cambridgeport, the real name for Area 5. Therefore, Area 4 residents petitioned the city for a change back to the historic name, The Port. This was done in 2015. The developers of Port Landing, therefore, chose a name that complements the neighborhood — one that graciously affirms the past while embracing the advances of the modern age.

Station Lofts

Station Lofts

“Brockton is on its way back,” said CEO Franco, noting that in addition to public transportation, major highways are nearby, including Route 24, I-93, I-495, and I-128/I95. “Trinity Management is thrilled to be chosen to manage this great asset.”

Station Lofts was built in 1880 by Lilly Brackett Boot & Shoe Co., one of many factories that gave Brockton the name “Shoe City.” It was purchased in 1908 by Geo Knight & Co, which made shoe machinery. A tenant, Stall & Dean, liked leather, too, and made baseball mitts. The company was credited with creating the catcher’s mitt, a vital piece of baseball equipment.

Kitchen/dining area

Jason Korb, Principal of Capstone Communities LLC, saw the building in 2010 and dreamed of fusing old and new to revitalize a building in a city that was aching to wake up from post-industrial malaise.

The 2013 renovation and historic rehabilitation is a superb. Wood and cement floors, exposed brick walls and beams, high ceilings, and replicas of historic windows add charm. Modern lighting, open floor plans, large windows, contemporary kitchens and baths, in-unit laundries, and ample closet space provide modern convenience. The high-impact fitness center, on-site personal storage, bike storage, and surface and garage parking are great bonuses. The building is smoke-free. It is also pet friendly (restrictions apply).

There are 11 market-rate units: 2 studios, 2 one-bedroom; 7 two-bedroom units. There are 14 affordable units. Three affordable units are for those earning 30% of area median income, one of each size. Eleven are for those earning 60 % of AMI: 2 studios, 1 one-bedroom, 7 two bedroom and 1 two-bed duplex.  Trinity Management provides on-site management and 24-hour emergency maintenance.

Station Lofts was first, and Trinity Financial followed soon after with the renovation of the Brockton Enterprise block into two residential and one commercial property. Now Trinity Management has a quartet of Brockton buildings, all transit-orientated and within walking distance of each other: Station Lofts, Enterprise Main, Enso Flats, and Centre 50.

 

 

 

 

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