Eastern Bank leads construction loan for Copperworks

A rendering of the Copperworks condominiums at the Revere Heritage Site courtesy of Thorndike Development

Eastern Bank, America’s oldest and largest mutual bank, is pleased to announce an $11 million construction loan to award-winning developer Thorndike Development for ground-up construction of the Copperworks Condominiums in Canton.

With first occupancies planned for December 2019, Copperworks is a three-story boutique condominium community built on the site where Paul Revere fabricated the copper panels for the original Massachusetts State House dome more than 200 years ago. The historic Paul Revere Heritage Site will include 212 condominium homes as well as a stylish restaurant and landmark museum in the original copper foundry. The site also features easy commuter access, a public park and sustainable living.

A customer of Eastern Bank for more than 15 years, Thorndike has built more than 2,000 homes and apartments in the greater Boston area and is the recipient of more than 45 national and regional awards for excellence. Thorndike has been included in multiple lists of top builders in the region and nation, and Lloyd Geisinger, founder and president of Thorndike, has been recognized as a Builder of the Year by the Greater Boston Association of Homebuilders. Through the years, the banking relationship with Eastern has provided construction financing for residential projects across the south shore, including in Hudson, Norton, Quincy, and now Canton.

“Eastern values our region’s history and the strength of its communities,” said Geisinger. “Working with Eastern to help write the next chapter of this historic site’s history is very special. We look forward to welcoming the first residents later this year.”

The Commercial Real Estate team advising Thorndike includes Matthew Osborne, executive vice president/senior commercial banking officer and a Canton resident; Michael McCarthy, senior vice president; and Olivia Gough, portfolio manager.

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Posted by Guest on Aug 17 2019. Filed under Business. Both comments and pings are currently closed.