| Cathartes Private Investments Develops Etonic
Lofts - Brings Urban Transit-Village Lifestyle to Brockton |
Property Expected to Serve as Catalyst for Downtown
Brockton's Urban Renaissance
Boston - Cathartes Private Investments
(CPI), a Boston-based private real estate investment and development company,
and Juliano Enterprises today announced the development and availability of
Etonic Lofts in downtown Brockton, Mass. Adjacent to the train and bus station
and 30 minutes to Boston on the commuter rail, these new loft-style
condominiums offer buyers affordable homes at the heart of Brockton's
burgeoning transit-village.
"Etonic Lofts is a central piece of the
urban renaissance we have planned for downtown Brockton, and I'm thrilled to
have this development underway," said John T. Yunits, Jr., Mayor of Brockton.
"These lofts offer people urban-style living at a very attractive price, and
the opportunity to live in an up-and-coming transit-village. I anticipate this
development will serve as the catalyst for downtown Brockton's resurgence."
Etonic Lofts will feature 64 two-bedroom, loft-style, residential units
in a renovated historic mill. Units will begin at $230,000 - $250,000 and
feature exposed brick, urban ambiance, parking and green space. This property
is conveniently located to parks, schools, shopping, the commuter rail and
major routes, providing transportation links to Boston, Providence and Cape
Cod.
Etonic Lofts are the first phase in a larger development program
that CPI is interested in pursuing. The next phase, which is anticipated to
begin in winter 2004/2005, will involve renovation of a historic building at
the opposite end of the transit center and will yield 64-80 units.
"Etonic Lofts offers buyers an excellent value, quality construction
and an exciting opportunity to get in on the ground floor of Brockton's
renaissance. This development is a model for urban renaissance - it's
exceptional that Mayor Yunits and the city planners are so involved," said
James Goldenberg, partner and co-founder, CPI. "Etonic Lofts gives us the
opportunity to bring urban, loft-style living to Brockton. This project builds
on the past successes that we've had in Boston and New Jersey transforming
transit-oriented developments into loft-style living spaces."
Etonic
Lofts will be the first project for CPI, a real estate investment and
development company that targets value-oriented investment opportunities in
primary New England markets. CPI was formed by partners James Goldenberg and
Jeff Johnston, and is based on their 12-year track record of success with
Cathartes Investments and more than 40 years of collective experience in real
estate development. This broad experience base enables CPI to leverage
properties to create value for its individual, private investors.
"CPI
strives to find untapped value in real estate and continue outperforming the
market to bring our investors exceptional returns," said Goldenberg. "The broad
base of experience that Jeff and I have provides us with unique vision and
foresight into real estate investment and development, and enables us to
approach projects less traditionally."
CPI has assembled a portfolio of
opportunities that includes condominium and hotel development projects;
self-storage, office and retail investments; and several transit-oriented
development (TOD) opportunities. The company will focus on properties in Boston
and in primary markets in New England.
Goldenberg and Johnston's
experience enables them to identify opportunities among several different types
of properties, analyze them from multiple perspectives, and form development
strategies that maximize returns. The partners have developed longstanding
relationships with a variety of strategic partners - industry leaders that
bring their expertise to all aspects of their projects.
About
Cathartes Private Investments
Headquartered in Boston, Mass.,
Cathartes Private Investments (CPI) is a private real estate investment and
development company that targets value-oriented investment opportunities in
primary New England markets. CPI was founded in 2003 by Jim Goldenberg and Jeff
Johnston. Building on 40 years of collective real estate experience, CPI
identifies and leverages undervalued property to deliver above market risk
adjusted returns to its private investors.
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