Ollie has announced it will be managing 7INK, a co-living project currently under construction in Boston’s South End neighborhood. The developer, National Development, has stated that this will be the city’s first wide scale co-living project.
7INK will have 180 units total, with a combination of pure co-living spaces, common rooms, suites and furnished studios. Citizens Bank is lending $53 million to the developer in order to fund the project.
“The Citizens team has deep knowledge of the commercial real estate landscape and its close attention to detail made for a seamless and timely execution,” Tom Alperin, president of National Development, said in a statement.
Ollie’s website says that 7INK will open in 2021. The company will be providing their usual management services, including offering residents free cable and WiFi and organizing community events and social programs.
The building will be part of a large complex, called Ink Block, which contains hundreds of rental apartments, in addition to neighborhood cafes, a Whole Foods and other amenities.
Ollie has spearheaded several co-living projects that place an emphasis on health and wellness. They have not announced if 7INK will join these ranks.
Though the developer has suggested that this building is the first large co-living project in Boston, there are similar concepts afoot in the city. Britain-based Scape is developing an apartment building that was originally conceived as a private student dorm, but has recently increased its scope to include working professionals.
photo credit: 7ink