Coventry Crossing is expected to deliver in the fourth quarter. Washington Trust is providing the loan, which will be used to complete the project, according to Fantini & Gorga, which is mum about loan details. Fantini & Gorga, an affiliate of Boston-based Eastern Bank, arranged the financing for the Concord, MA-based developer.
The retail center, situated on 5.7 acres, has been preleased by CVS, Webster Bank and Dunkin Donuts. There is 2,700 sf left to fill.
According to Fantini & Gorga, the parcel originally was zoned for residential use, but Hecht had it rezoned. The property sits just off Interstate 95 across from the Centre of New England, a mixed-use development with a Home Depot, BJ's Wholesale Club and Wal-Mart.
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