A 134-unit mixed-use project outside downtown Portsmouth has landed the financing it needs to get underway.
West End Yards, from Boston-based Torrington Properties, is being developed on the site of a former conference center next to the city’s Islington Street business district. The project will have 44 studio apartments, 28 one-bedroom apartments, 23 one-bed-one-den units and 39 two-bedroom units, all equipped with free parking, Silestone quartz countertops, stainless-steel appliances and in-unit stackable washers and dryers. Amenities at the property will include a fitness center, a bicycle station and several modern lobbies and common areas. Additionally, the property will have a full-time property management and maintenance staff
The property will also include 22,000 square feet of loft-style office space and 20,000 square feet of retail, including a brewery. The project was granted final approvals late last year.
Cornerstone Realty Capital provided the $34 million construction loan.
“This site, given its convenient location in the near vicinity of downtown Portsmouth and several considerable roadways, is poised for this type of high-quality development that caters directly to the sort of resident Portsmouth attracts,” Jay Bisognano, president of Torrington Properties, said in a statement. “In the endeavor to create such a property, Cornerstone has played an instrumental role throughout as they have not only provided us with a comprehensive financing package, but have served as trusted advisors throughout this several yearlong process.”