#United States #Boston #Mill Creek #Modera Newton #Newton

Mill Creek Expands Its Portfolio with Modera Newton Acquisition

In a strategic move to strengthen its foothold in the competitive Boston rental market, Mill Creek Residential announced its acquisition of Modera Newton, a modern midrise apartment community. This latest addition to their portfolio sits gracefully along the Charles River, just about nine miles west of Downtown Boston.

A Closer Look at Modera Newton

Modera Newton features a total of 205 apartment homes, having been constructed in two phases, with the first building completed in 2023 and the second following in 2024. Formerly known as Allée on the Charles, this contemporary living space offers residents immediate access to The Charles River Greenway and the well-maintained Forte Park. The area prides itself on both a recent and historical emphasis on community development, rekindling interest in urban aesthetic and comfort.

Kel Frazier, the president of acquisitions for Mill Creek Residential, spoke on the acquisition, stating, "Newton presents an attractive suburban community that not only boasts high barriers to entry but also demonstrates strong demographic trends that enhance its desirability." This emphasizes the strategic importance of the location, harmonizing luxury rental offerings with a robust demographic profile.

Community Features and Amenities

Modera Newton is designed with dual building formats. The North Building aspires for LEED Silver® certification, while the South Building meets Passive House certification, guaranteeing energy efficiency and sustainable living conditions for its future residents.

The community is equipped with an array of amenities, promising a life of leisure and convenience. Residents can enjoy a resort-style swimming pool, dedicated outdoor dining areas with grilling facilities, a conference room for professional gatherings, and a makers/art studio for creative expressions. Gamers can indulge in leisure activities with shuffleboard and ping-pong facilities, and pet owners will appreciate the pet spa and indoor dog-washing station. A well-furnished fitness studio rounds out the provided amenities, catering to health-conscious individuals.

Interior Features: Each home within Modera Newton is crafted with care, showcasing wood plank-style flooring, oversized windows pouring in natural light, and modern kitchens outfitted with stainless steel appliances and stylish quartz countertops. Residents will also benefit from in-home washers/dryers, walk-in closets, programmable thermostats for comfort control, and other contemporary conveniences that enhance everyday living.

Bathrooms are designed with relaxation in mind, featuring soaking tubs, ceramic tiles, and custom cabinetry alongside elegantly lit vanities. To cater to varying lifestyles, select homes will include glass-enclosed showers, catering to both aesthetic preference and functional needs.

The Perfect Location

Modera Newton is ideally situated at 2-4 Los Angeles Street, surrounded by highly regarded schools, lush parks, and diverse recreational outlets, reinforcing Newton's reputation as a family-friendly suburb. This locality is not just tranquil but is a robust community driven by quality educational institutions like Boston College and Brandeis University, as well as significant local employment markers including Newton-Wellesley Hospital and Newton Public Schools.

With this acquisition, Mill Creek Residential not only extends its portfolio but also reinforces its commitment to providing superior living experiences across the U.S. This move aligns with their strategy of acquiring, building, and managing rental communities in some of the nation’s most sought-after markets. As of late September 2024, Mill Creek operates or has under construction 144 communities encompassing over 41,000 rental homes nationwide.

For those interested in this unique suburban offering or encompassing more details on Mill Creek Residential's diverse portfolio, further information can be accessed on their website at www.MillCreekPlaces.com.