The Dolben Company and Wakefield Investments have begun work on a second project within the Tuscan Village mixed-use development in Salem, New Hampshire, The five-story Caro residential project. It is planned to be completed in early 2023 by the joint venture. Pilot Construction was chosen as the project’s general contractor, while HDS Architecture will be the architect and TMD Designs LLC will be the designer. Berkshire Bank and private equity also provided construction loans for the residential complex. The 260-unit Caro will have a studio, one-, two-, and three-bedroom units with sizes ranging from 567 to 1,200 square feet.
The apartments will include in-unit washers and dryers, kitchen islands, and patios and balconies. The amenities have been divided into two main areas by the developers: the clubroom, which will include a kitchen, conference area, fitness center, and work-from-home spaces, and the outdoor courtyard, which will include a grilling area, swimming pool, turf play area, roof deck, outdoor pet area, and bike storage.
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Residents of Caro will also benefit from the community’s position in Tuscan Village, a mixed-use master-planned area regenerated from the former Rockingham Park horse track. Joe Faro is developing the 170-acre project, which will comprise 700,000 square feet of retail, 1.3 million square feet of Class A office space, more than 1,200 residential units, and a 165-key hotel and the Mass General Brigham regional medical facility.
The corporations originally collaborated on Corsa, another residential neighborhood that is part of the Tuscan Village master plan and will be Caro’s sister site. The Dolben Co. has created many projects in the Northeastern United States on its own, including a 331-unit community in Lynn, Massachusetts, a 212-unit community in Salem, Massachusetts, and a 250-unit mixed-use complex in Portsmouth, New Hampshire. Near June, the business sold a 212-unit development in Williamsburg, Va., for $46 million, just outside the Northeast.
