December 12, 2019, WOBURN, MA – Lynn Redevelopment LLC, an affiliate of The Dolben Company, Inc., (“Dolben”) and Minco Development Corporation, has broken ground on Breakwater North Harbor, a 331-unit luxury apartment development located at 254 Lynnway in Lynn, Massachusetts. A groundbreaking ceremony was held this week to commemorate the development of the property; attendees included the principals of the ownership, project team, and local and state officials.
Breakwater is a 331-unit apartment community currently under construction on the former site of Beacon-Bel Chevrolet. This site, with frontage on Lynn Harbor, has been vacant for over 35 years. Two podium style buildings are currently under development. Building A includes 219 units in five stories over two levels of above ground parking, as well as 4,000 square feet of leasing office space and amenity offerings on the first floor. Building B includes 112 units in four stories over one level of on-grade parking. In addition to the first-floor amenity spaces, Building A will have two courtyards containing seating areas and a water feature. A publicly accessible waterfront harborwalk will be constructed along the harbor frontage of the site, as required by Mass Chapter 91 regulations.
Breakwater has obtained two economic grants from the Commonwealth, a MassWorks grant for traffic improvements to the Lynnway, and a Seaport Economic Council Grant for improvements to the seawall (revetment) in front of the property. Interested parties can visit www.BreakwaterNorthHarbor.com for more details on the project.
Andrew K. Dolben, Executive Vice President of The Dolben Company, Inc., stated, “We are extremely proud to be moving forward with the development of Breakwater. This project represents a new housing opportunity for the City, in a unique waterfront location, and we sincerely appreciate the City and State’s efforts and partnership in making Breakwater a reality.”
Louis P. Minicucci, Jr., Founder and President, Minco Development Corporation, said, “We enthusiastically embrace the Breakwater North Harbor project which has been nearly seven years in the making and are proud to create housing and employment opportunities by contributing to the economic revitalization of Lynn. Working with our local and state officials and our business partners in a collaborative effort has made this project possible.”
About The Dolben Company, Inc.
With offices in Massachusetts and Maryland and more than 17,000 residential units throughout the New England and Mid-Atlantic regions, The Dolben Company, Inc. is built on a deep heritage of performance and stewardship. Since 1929, four generations of the Dolben family have upheld a proud tradition of unparalleled success and profitability, fulfilling the property and investment needs for a wide array of businesses, financial institutions, organizations and private investors. For more information on The Dolben Company, visit www.dolben.com.