After years of urban wasteland, new life comes to the MaxPac site. - Photo by Ashley Taylor

Construction to begin soon

By Andrew Firestone

Davis Square Partners, the companies of K.S.S. Realty and Gate Residential Properties responsible for the MaxPac condominium development, has announced that they have cemented the deal for financing, signed their construction contracts, and will now break ground on the $52.5 million 184 condo project. The announcement, made last Wednesday, July 27, marks an end to the formerly blighted property, and the beginning of the Maxwell’s Green project, as the land will be known henceforth.

“We’ve been working pretty hard,” said Kyle Warwick of Davis Square Partners. “There’s a great team that we’ve pulled together. And there’s a lot of passion, a lot of creativity. We’re trying to create this innovative community and really, the extension of the fabric of Somerville in a great location.”

Within a mile of Davis Square, and straddling Somerville’s long community path, the buildings will include, “a yoga studio, fitness center, theater room, unique wireless work space, roof deck, club suite (featuring a chef’s kitchen, along with a sophisticated dining and entertainment area), and direct access to a central park,” said Davis Square Partners in a statement. “With 24 units designated as affordable housing, Maxwell’s Green is also one of the largest affordable rental opportunities in Somerville. “

The developers have brought on J. Derenzo Co., which represents one of the largest contracts in the project, and uses union labor from Local 22 and Operating Engineers Local 4. Warwick also said that the project will also include union carpenters, and will seek to hire locally where they can.

The funding came through after an investment by Davis Square Partners added equity from an unknown silent partner, and a debt agreement with Sovereign Bank. It will break ground and begin construction in earnest in the next few weeks.