Middlesex Savings Bank funds $11.2M in construction projects
Natick-based Middlesex Savings Bank announced that it has provided more than $11.2M in construction loans for residential development projects.
The three projects include residential build-outs in Boylston, Milton and Weston. The Boylston project is a phased 45-lot subdivision of private homes. The bank committed a $3 million line of credit to finance house construction in late 2015, after a $3 million line of credit was provided in 2014 for roadwork. Currently sales are underway with four homes pre-sold and under construction in Phase 1.
The other projects are a 36-unit collection of townhouses in Milton and a 7,419 square-foot home in Weston.
Middlesex Savings Bank, founded in 1835 and headquartered in Natick, is a the second largest mutual bank in Massachusetts with assets exceeding $4 billion.
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