Lendlease and L+M Development Partners have announced the closing of the construction financing for 100 Claremont Ave., a 354,000-sq.-ft. mixed-use building.
The companies have secured a $250 million construction loan from the global financial services firm Barings.
New York architecture firm Robert A.M. Stern Architects designed the 100 Claremont mixed-use residential and academic building to integrate with the broader campus and surrounding neighborhood.
When fully constructed, 100 Claremont will provide approximately 54,000 sq. ft. of modern classrooms, academic offices and faculty-designated apartments. The remainder of the building comprises approximately 165 condo residences with a mix of one-, two-, three- and four-bedroom units.
The new building is targeting the U.S. Green Building Council standards for LEED Gold Certification, and V2 of the WELL Building Standard.
Construction on the building is set to complete in spring of 2023.
