First Niagara Financial Group has arranged $68 million in financing to construct a 328-unit multifamily development at the site of a former candy factory in Everett.
The development, to be known as the Batch Yard, is a joint venture between Fairfield, Connecticut-based Post Road Residential Inc. and a Connecticut-based institutional investor. It is being built at the site of the former Charleston Chew candy factory near the intersection of Broadway and the Revere Beach Parkway.
The Batch Yard will be comprised of three residential buildings. Two of those buildings, known as the Podium Buildings, will be new construction, and the third building, known as the Mill Building, will be located in the rehabilitated and converted Charleston Chew manufacturing facility. Amenities will include a five-level parking garage, roof-top deck and swimming pool.
Units will be a mix of studio apartments and one-, two-, and three-bedroom units with an average size of 830 square feet. Each unit has nine- to 12-foot ceilings and energy-efficient windows.