LYNN — The luxury apartment project for the downtown is one step closer to reality as a construction and design team have been hired for the $80 million project.
Dellbrook/JKS, a Quincy construction management firm, has been selected for the mixed-use project on Munroe Street by the Procopio Cos., the Saugus developer of the complex.
Michael Procopio, principal, said the development is complex and logistically challenging, and it was important to have the right construction managers onboard from day one.
“We are confident that the Dellbrook team will be great partners not only for us as investors and developers, but for the city and area stakeholders as well,” Procopio said in a statement.
Procopio has an agreement to purchase the 30,000-square-foot parcel for an undisclosed price. Assessed at $216,700, the lot, now used as a community garden, is owned by Munroe Partners LLC, operated by Gordon Hall, president of The Hall Co., and a Daily Item director. Munroe Partners purchased the lot in 2010 for $650,000.
The design team is led by Beverly-based DMS Design LLC, an architecture and interior design company.
The Munroe Street development includes 189 apartments priced in the mid $2,000s per month, an underground garage, a 6,000-square-foot roof deck with ocean and Boston skyline views, and 15,000 square feet of retail and restaurant space on the first floor on Oxford and Munroe streets.
Construction is expected to be underway by year’s end.
