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26-acre site will create over 300 apartment units across 17 buildings on former retail site

PORTSMOUTH, NH – December 4, 2025 –  Callahan Construction Managers (Callahan), a full-service construction management company headquartered in Bridgewater, Mass. with offices in White Plains, NY, announced today that it has broken ground on Prescott Post, a significant residential development located in Portsmouth and featuring 17 standalone 3-story walk-up and 4-story elevator buildings. The project’s developers are Eastern Real Estate and The Kane Company, which have collectively overseen the development and management of millions of square feet of properties across the U.S. and within New England.

The 360-unit market rate project will span a 26-acre site on what was formerly the home of a long-vacant Christmas Tree Shops and Bed, Bath, and Beyond retail stores. Featuring a mix of studios, one-bedrooms, two-bedroom and three-bedroom units, the community will boost Portsmouth’s housing stock while also preserving open space and introducing amenities that reflect the hybrid and flex-work lifestyles many young professionals have adopted.

Prescott Post will include over 2.7 acres of green space, which will be used to provide residents with access to a public dog park, multiple recreation areas with grills and picnic tables, community walking paths, and greenways. A shared indoor residential amenity suite will be centrally located within the site on levels 1 and 2 of one of the community’s 4-story buildings, and social gathering spaces abound. A clubroom, resident game lounge, private work pods, and outdoor lounge spaces are among the numerous proposed amenities. In addition, an indoor/outdoor fitness facility will offer recreational activities for all skill levels and abilities.

“Portsmouth is one of New England’s most exciting cities, and Prescott Post will create opportunities for current and future residents to experience all that it has to offer,” said Steve Callahan, Jr., Vice President – Business Development for Callahan Construction. “We are particularly excited to be part of the team responsible for bringing it to life, and to work closely with city leadership and residents to build a project all can be proud of.”

Callahan recently completed the 75 Canal residential development in Manchester, which was recognized with a Build New Hampshire award from the AGC of NH. For more information on Callahan’s residential market expertise, click here.

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Waverly Expands Portfolio With a Mixed-use Project Delivering Much Needed New, Local Housing and Retail

Framingham, MA – November 19, 2025 – Waverly Development, a full-service commercial real estate company focused on institutional-quality multifamily, mixed-use, and industrial properties, today announced the groundbreaking of a new, transit-oriented apartment community at 358 Waverly Street in downtown Framingham, approximately 500 feet from the Framingham Commuter Rail station.

The 181 home, urban infill project will transform a long-underutilized site into a vibrant residential community featuring nearly 3,000 square feet of retail, 21 affordable apartments, and 230 garage parking spaces. The development advances the City’s goals for smart growth, transit access, and downtown activation by delivering much-needed housing during a challenging market environment.

“At Waverly, we like to think of development as a team sport,” said Raymond Boghos, Principal, Waverly Development. “From day one, we’ve partnered closely with the City of Framingham, our neighbors, and our design and construction teams to deliver a thoughtful, responsive project that creates value for all stakeholders. This groundbreaking represents the start of a new chapter for downtown Framingham that offers more housing choices, easier access to transit, and inviting spaces that help people connect.”

The community will also feature a comprehensive amenity package consistent with a luxury apartment building, including a clubroom, fitness center with yoga studio, work from home offices, swimming pool, landscaped courtyard with fire pits and grilling stations, turf field for yard games, dog run, package and bike storage, private storage, EV charging, and more, designed to support modern lifestyles and foster community.

“The need for more smart, sensible, transit-oriented development is significant in Massachusetts, which is why the start of construction of the 358 Waverly Street project is so important for the Metrowest region,” said Patrick Callahan, President, Callahan Construction. “Waverly Development has shown that they understand the need to create multi-functional spaces that put underutilized properties to good use, and we are proud to be their construction partner on this community that will inject new life into downtown Framingham.”

Experienced Leadership at the Helm

Waverly was founded by their two principals: Julia Wynyard and Raymond Boghos. Wynyard has overseen the development of more than 3,250 apartment homes and $1.75 billion in multifamily, retail,

and commercial projects. Known for her focus on placemaking and community-building through design, Wynyard previously held senior roles at Samuels & Associates and AvalonBay Communities.

Her partner, Raymond Boghos, has spearheaded development and entitlement efforts for more than 2,000 apartments and 300,000 square feet of industrial assets, representing over $1 billion in investment. Boghos started his real estate career developing condos in South Boston while he was still in college. Today, he continues to bring that entrepreneurial spirit to Waverly, while also drawing from his experience as a developer with AvalonBay Communities, where he managed the full development lifecycle of multifamily projects across Massachusetts.

Together, Wynyard and Boghos bring more than 25 years of combined experience and a proven track record of creating institutional-quality housing and mixed-use communities. Their expertise in permitting, design, construction, and financing drives Waverly’s ability to move complex projects forward even in today’s challenging development environment.

Advancing the Future of Downtown Framingham

This project reflects three important themes in today’s real estate market: housing production at a time when getting projects financed and built is especially difficult; transformation of a key downtown site to create housing, retail, and new public-facing edges; and a commitment to transit-oriented, urban infill development that supports sustainable mobility and walkable, mixed-use neighborhoods.

“This groundbreaking represents a major step forward for the redevelopment of downtown Framingham and for housing in our city,” said Sarkis Sarkisian, Director of Planning & Community Development, City of Framingham. “The zoning that Town Meeting adopted in 2015, now aligned with the state’s MBTA Communities requirements, was designed to support exactly this kind of transit-oriented, mixed-use development. By bringing 181 new units, 11 percent of which are affordable and ground-floor retail to a long underutilized site near the Commuter Rail, Waverly Development is helping us meet a critical housing need while advancing our shared vision for a more connected, vibrant, and livable downtown for the people of Framingham.”

About Waverly Development

Waverly Development is a full-service, commercial real estate company focused on the development of institutional-quality multifamily, mixed-use, and industrial properties across Massachusetts. Founded in 2022 by Raymond Boghos and Julia Wynyard, Waverly’s principals bring more than 25 years of combined experience spanning $2B+ in investment and 4,000+ apartment homes. Current and recent work includes multifamily and mixed-use projects across urban and suburban submarkets in Greater Boston.

When a construction company considers different markets to build in, numerous factors come into play. Chief among them is access to a talented local workforce, along with a steady pipeline of potential projects coming online. As you begin to get more granular in your assessments, the economic drivers for entering a particular state begin to get very specific.

At Callahan, we’ve been fortunate to expand from our headquarters in Bridgewater, Massachusetts, to additional markets like Connecticut, New York, New Jersey, Rhode Island, and New Hampshire. In the case of the Granite State, an active pipeline of projects around major metropolitan areas has combined with lower costs and reduced regulatory complexity to make it a compelling place to do business.

Over the next several years, we expect to see continued growth across all Callahan markets, and below you will find some key data points that excite us about future activity north of Route 128.

Attractive Economics and Statewide Support 

Numerous measurement tools point to New Hampshire’s status as an economic powerhouse, but this status isn’t achieved through heavy fees and generous tax breaks to large corporations. The Granite State leverages a low tax burden on both individuals and businesses to keep its economy humming, while a booming tourism industry relies on the state’s dominance as a playground for outdoor recreation as a reliable source four-season income.

According to a recent report, New Hampshire’s outdoor recreation industry is responsible for over 30,000 jobs and adding almost $4 billion to the state’s economy. Couple this with zero income tax for residents, no sales tax, and no inheritance/estate taxes, and you have a recipe for a very financially friendly existence. Even the business profit tax rate is quite competitive, currently sitting at 7.5 percent.

The construction industry is also a major economic driver, with the United States Census Bureau reporting at the end of 2024 that the value of state and local construction in NH in 2023 was $1.18 billion, representing a jump of almost 20 percent over the prior year.

New Hampshire’s Department of Business and Economic Affairs (BEA) is another example of a strategic advantage for local businesses, as it works to help with all manners of issues, from permitting requirements to cultivating a strong workforce. In addition, economic development agencies at the local level are also a tremendous resource, as we personally experienced working closely with the City of Manchester’s Economic Development Office during the construction of the 75 Canal residential community and currently with the city of Salem as we march towards completion of the Tuscan Village mixed-use project.

Compared to other New England states, New Hampshire’s regulatory environment is often friendlier, allowing for speedier time-to-market when it comes to launching new projects. For instance, Massachusetts’ plan for decarbonization is quite ambitious, with policies like BERDO and BUEDO beginning to be replicated outside of Boston. While New Hampshire also has instituted a Climate Action Plan, the impact of this policy has fewer hurdles and economic penalties attached. While all climate policy is essentially “good” policy, New Hampshire’s approach allows for greater flexibility when it comes to building or renovating commercial structures.  

While no one place is perfect, Callahan is excited to see New Hampshire get the recognition it deserves for the sensible approach it has taken to regulatory and tax policies and leveraging its strengths and people to spur job creation and economic growth.

To learn more about Callahan & our projects, visit our website.

Former National Welding site to be reborn as transit-friendly apartment community

WHITE PLAINS, NY – April 28, 2025 – Anthony Properties (AP) in partnership with Perry Reid Properties (PRP) is excited to announce the groundbreaking of The Spark on Cedar in Newington, CT. The project will consist of 232 Class-A apartments at the former National Welding site along Cedar Ave. This project will represent the twelfth property which AP and PRP have co-developed. The development team has selected Callahan Construction Managers as the General Contractor. Callahan is a full-service construction management company headquartered in Bridgewater, Mass. with offices in White Plains, NY.

The Spark on Cedar development is a public-private partnership with the Town of Newington and the Connecticut Department of Economic and Community Development (DECD), and represents a collaborative approach to revitalizing the former National Welding property. The city of Newington procured a $2 million grant from DECD to support remediation of the brownfield site and attract developers capable of converting the underutilized parcel into a high-end transit-oriented development. With an extensive portfolio featuring residential and transit-friendly projects, the development team was a natural fit to oversee the site’s transformation.

The project site is centrally located and offers future residents a wide range of shopping, dining, and entertainment options, along with proximity to many leading Connecticut employers. In addition, the nearby Cedar Street Station provides express service to downtown New Britain in about 6 minutes and downtown Hartford in about 20 minutes via the CTfastrack, Connecticut’s first Bus Rapid Transit system. 

“From the outset, the vision which we had for The Spark on Cedar was to offer the residents of Newington a desirable rental housing option, one offering not only outstanding amenities but also superior convenience,” said Ross Anthony, president, Anthony Properties. “Thanks to the partnership from the Town of Newington and the DECD, we are now able to realize that vision and also create opportunities for prolonged economic growth impacting at both the state and local levels.”

Callahan Construction, along with architect Hensley Lamkin Rachel, Inc. and engineering firm Fuss & O’Neill, was selected to oversee design and construction of the 4-story apartment community which will consist of studio, one-, and two-bedroom units along with 301 parking spaces and amenities including a resort-style swimming pool, a dog park and pet spa, and EV charging stations. In addition to building the new residences, Callahan’s robust pre-construction planning services are being utilized to create a safe, efficient jobsite within a densely populated urban corridor.

“We are pleased to have the opportunity to deliver a much-needed residential community to

downtown Newington, and to do so as part of a dynamic team showcasing the impact of
private-public partnerships,” said Dave Morrow, vice president of New York Operations for

Callahan Construction. “As a leading construction manager that has completed numerous residential communities across the northeast, we are confident that The Spark on Cedar will be source of pride for the City of Newington, our partners at Anthony Properties and Perry Reid Properties, and the residents that will soon call it home.”

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New construction project will create 106 affordable homes and mixed-use development

BRIDGEWATER, MA – April 8, 2025 –  Callahan Construction Managers (Callahan), a  full-service construction management company headquartered in Bridgewater, Mass. with offices in White Plains, NY announced today that in partnership with its client Just A Start, a Cambridge-based community development corporation, it has marked the topping off of 52 New Street, the organization’s largest residential development to date.

Just A Start promotes equity and creates pathways to economic opportunity by providing affordable housing, career training, and comprehensive support services, and is relied upon daily by residents of communities including Cambridge, Somerville, and beyond. 52 New Street will further that mission by building 106 affordable apartments for families of varying incomes. In addition to the affordable residential component, Callahan is overseeing the construction of 3,875 square feet of commercial space on the ground floor, which will help spur economic activity while delivering essential services to residents and the broader Cambridge community.

“Callahan Construction Managers has been a vital partner in bringing 52 New Street to life,” said Just A Start Executive Director Carl Nagy-Koechlin. “Their expertise and commitment to affordable housing help ensure more families have access to stable, high-quality homes in Cambridge. We’re grateful for their collaboration in making this vision a reality.”

In addition to partnering with Just A Start to provide maximum value against the budget

requirements, Callahan will ultimately deliver a residential facility that complies with Passive

House International standards, in turn creating an ultra-low energy project that aligns with both

city and state goals of reducing energy consumption. The company is also working with Just A Start to drive engagement in Boston’s Youth Build initiative to bring more young people into the trades.

“The mission of Just A Start leads to creating better outcomes for individuals and families that have the potential for greater things – but they need a solid foundation to build from,” said Stephen Callahan Jr., Vice President – Business Development for Callahan. “At Callahan, we have been honored to partner with Just A Start and be a part of the team that is bringing 52 New Street to fruition, with today’s milestone an achievement for all stakeholders as well as the residents of Cambridge.” 

For more information on Callahan’s affordable housing portfolio, click here.

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210-unit market-rate community moves ahead despite challenging winter season

BRIDGEWATER, MA – March 31, 2025 –  Callahan Construction Managers (Callahan), a full-service construction management company headquartered in Bridgewater, Mass. with offices in White Plains, NY announced today that it has marked a major milestone at the Poet Hill Residences in Worcester with a topping-off ceremony. This event typically celebrates the completion of the structural framework of the building under construction, and Poet Hill continues to progress ahead of schedule despite the challenges posed by an active winter season.

Watch the Topping Off Video

The Poet Hill Residences is a 210-unit, market-rate housing development owned by SMC Management Corporation in the Poet Hill neighborhood of Worcester.  Located on a 5-acre site on Hemans Street, the project features five stories of residential living over a double-podium parking garage. While the feature-rich development will certainly be recognized for the amenities afforded to residents, Callahan has contended with a challenging sitework package due to the natural slope of the property. Working in partnership with architect Maugel Destefano, the team made the site work to its advantage by incorporating a residential courtyard on top of the parking deck that is level with Hemans Street.

In addition, the location on top of a hill in one of the most climate-intensive cites in Massachusetts has made reaching today’s milestone even more significant. From pouring concrete slabs, erecting steel and wood framing to installing siding and windows, Callahan has kept the project moving forward through the coldest and windiest winter in several years.  Fortunately, work inside the buildings continued unabated, allowing the MEP trades to stay active and for city inspections to proceed.

“Thanks to a strong partnership with city leaders and SMC, we’ve been able to forge ahead and reach today’s important milestone, bringing us one step closer to unveiling an exciting multi-family development in Worcester,” said Stephen Callahan Jr., Vice President – Business Development for Callahan. “Our experience building both numerous multi-family communities and all across Worcester County prepared us for this unique project, and we’re excited to see it come to life.”

Callahan also celebrated a similar milestone at another multi-family project this week with the topping-off of Weiss Farm, a 259-unit multifamily LEED Silver-rated project located in Stoneham. For more information on Callahan’s multi-family experience, click here.

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Project represents latest collaboration with Erickson Senior Living

Bridgewater, MA – March 10, 2025 –  Callahan Construction Managers (Callahan), a full-service construction management company headquartered in Bridgewater, Mass. with offices in White Plains, NY, announced today that it has completed the expansion of the continuing care neighborhood at Linden Ponds, an Erickson Senior Living-managed retirement community in Hingham, Ma. This latest collaboration represents the fourth project Callahan has completed for Erickson Senior Living in Massachusetts.

The opening of the 59,000 SF Granite Commons was celebrated with a recent ribbon cutting ceremony. The new space consists of a two-story assisted care building with 50 residences, consisting of studios, and one- and two-bedroom floor plans, as well as a variety of amenity spaces including a games lounge, library, media room, restaurant, fitness area, and more. Previously, Callahan has overseen a series of renovation projects at the Hingham location.

Linden Ponds is home to a vibrant independent living neighborhood with more than 1,400 residents enjoying an active, engaged retirement lifestyle.  The safety and wellbeing of those who live at Linden Ponds was of paramount importance. With a tight schedule impacted by a 9-week turnaround for delivery of roof trusses, identifying every possible time-savings opportunity was critical for success. From project launch to completion, Callahan worked closely with the architect and owner in pre-construction to develop drawings that would support fast-track work in an occupied environment.

A generational builder with deep experience in multi-family and senior housing, Callahan was well-positioned to build this latest phase of Linden Ponds. The company has overseen senior housing construction projects across Massachusetts, Connecticut, and on the Cape and Islands.

“Callahan is very proud of its reputation for building in the occupied and sensitive spaces of long-term care communities, and we’re particularly excited to celebrate our long-standing relationship with Erickson Senior Living with the construction of Granite Commons,” said Steve Callahan Jr., Vice President – Business Development for Callahan. “The need for accessible senior living communities that reflect the changing demographics of our society is essential, and experts in developing these environments like Erickson Senior Living are a perfect match for Callahan’s unique expertise.”

To learn more about Erickson Senior Living, click here. To learn more about Callahan’s experience in building senior living communities, click here.

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The 142-room development advances PEG Companies’ innovative Residence Inn replacement strategy that delivers well-appointed select service assets in strong markets.

PEABODY, MA – February 6, 2025 – PEG, a leading vertically integrated owner, operator and developer of multifamily, hospitality and build-to-rent assets in the U.S. and Canada, and  Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations have successfully closed on financing and commenced construction on the Residence Inn by Marriott Peabody. As General Partners in PEG’s Residence Inn Replacement Strategy, PEG and McNair Interests are executing this initiative to modernize first-generation Residence Inns in high-demand markets. For this project, they’ve joined forces with Simon which owns and operates the mall housing the new hotel.

“The Residence Inn by Marriott Peabody exemplifies PEG’s dedication to delivering exceptional hospitality experiences that generate lasting value for both our investors and the communities we serve,” said PEG Development Manager Anthony Maxfield. “We are proud to bring this development to life in collaboration with our trusted partners.”

Located on 2.7 acres at the Northshore Mall, the premier shopping, dining and entertainment destination serving the coastal communities north of Boston, the new property will be walkable to these mixed-use amenities and offer 142 rooms designed in Residence Inn’s latest Gen 9 Residence Inn prototype. The Residence Inn by Marriott Peabody will offer plentiful parking in addition to a range of amenities, including a fitness center, an indoor pool, media salons, a conference room, and a hearth room.

“We’re excited to add the Residence Inn by Marriott at Northshore Mall to further enhance the center’s positioning as the region’s premier experiential place to shop, stay, and play while serving as a destination and a gathering place for the community,” said Patrick Peterman, Senior Vice President of Mixed-Use Development at Simon.

Project team include McNair Interests, Simon, DesignCell Architecture, R.J. O’Connell & Associates, and Callahan Construction.

The Residence Inn is expected to open in Fall 2026.

To learn more about PEG Companies, visit pegcompanies.com. 

Callahan Construction and Velney Construction Team Up to Meet Twin Challenges

By Pat Callahan

The need for housing in Massachusetts and across the country is immense. As a general contractor and construction manager with a wealth of expertise in building housing of all types (i.e. market-rate, affordable, age-restricted) Callahan sees how critical it is to bring these projects online. However, especially in today’s market, it is extremely challenging.

One of the biggest challenges we see in the industry right now goes beyond simply financing the work at the state level.  The 2021 MBTA Communities law as well as the recently passed Affordable Homes Act, are major steps in the right direction, but we see some additional steps needed to truly maximize the impact of public dollars – which is why our company recently took the proactive step to form a strategic partnership with Somerville, -based contractor Velney Construction.

Right now, the construction industry faces tremendous change as generational shifts that are impacting every layer of society also alter how we do business. Many seasoned professionals are aging out of the industry, leaving voids we desperately need to fill to meet the ambitious goals of the housing bills.

Callahan Wins Too

It is essential to build the bench of the next-generation of Massachusetts general contractors to ensure our industry is future-proof. Recently, groups like the SouthCoast Workforce Housing Coalition have been created to address the need to create good-paying jobs and increase housing stock in order to future-proof our workforce, a goal that our company shares with state leaders.

As Callahan continues to grow both geographically and in the scope of the projects we manage, partnering with companies like Velney will enable us to provide more resources to our customers while also ensuring that smaller and historically disadvantaged business have access to the tools necessary to grow professionally.

We see Velney as an ideal partner for pursuing joint venture opportunities on new housing projects and for helping a next-generation company invest in the tools needed to grow and succeed.

Firms like Velney often find it difficult to afford the resources necessary to grow smart and manage risk appropriately. We have found that many startup construction organizations fail due to financial strains on their business, or because they have taken on work without the proper resources to manage it.

Callahan will be helping Velney train its own employees both in practical jobsite skills along with utilizing technology tools such as Building Information Modeling (BIM), Procore and estimating software, along with internal resources like legal, accounting, risk management and quality control.

We believe this partnership will let Velney build a track record for sustainable and manageable growth, with the goal of eventually competing on their own with other larger GCs. 

Higher Construction Costs Hurt WMBEs

New building codes, as well as changes to federal policy such as the 2023 overhaul of the Davis-Bacon Act, sharply increased construction costs. Massachusetts’ new Home Energy Rating System (HERS) program also increased costs to build while passing future savings from reduced energy expenses on to the consumer down the road.

While these programs ultimately aim to protect workers and consumers, they also make it increasingly difficult for young companies to enter into an already expensive industry. Simply getting a shovel in the ground doesn’t mean a business is instantly profitable, as the road is long and challenging from signing a contract to being financially stable – and we believe companies like Velney can get there with some strategic support.

For Callahan, this relationship helps us become more diverse, grow our MBE/WBE partner base, provides our customers with more options and gives us the pride of helping others. We also see it as a critical way to help address the state’s housing shortfall by bringing on resources to help us build faster and smarter, all the while training next-generation workers who will someday build these projects on their own long after the current crop of leaders age out of the business. Massachusetts has made great strides to address the housing gap. We at Callahan are excited that this partnership with Velney will not only support ambitious investment in this state and the Northeast but also in a company that is ready to rise to the next level.

This story originally appeared in Banker & Tradesman

Summer slammer completed under tight schedule during student break

BRIDGEWATER, MA – September 10, 2024 –  Callahan Construction Managers (Callahan), a full-service construction management company headquartered in Bridgewater, Mass., announced today that it has completed a fast-track renovation ahead of schedule for Bentley University’s Forest Hall dormitory, a residential building that houses sophomores, juniors, and seniors in suite-style units.

Bentley, a private university located in Waltham, selected Callahan to oversee the renovation of 81 bathrooms within Forest Hall due to its extensive experience in both residential and higher education construction. As a company that understands the challenges of expediting construction schedules when a residential building is temporarily unoccupied, Callahan was able to leverage its cutting-edge pre-construction services team to design a project plan that met Bentley’s aggressive goals. 

“It was essential that the project team understood the compressed schedule and need to turn the building over as soon as possible,” said Jon Nattinville, Director – Planning and Construction, Bentley University. “We were pleased with the work completed by Callahan Construction, which provided critical updates to Forest Hall, a popular student residence facility.”

The Callahan team worked in tight confines that only allowed for 1 to 2 workers to be in the impacted bathroom area at a time. This constraint, combined with a 10-week turnaround for delivery of the finished spaces, demanded that the team not deviate from completion date goals. Aggressive schedule tracking and constant progress monitoring by both field and project management staff were essential for a successful turnover ahead of the projected completion date, along with frequent communication with the Bentley facilities team.

“We understand the pressures that higher education customers are under to expedite essential projects during the summer break,” said Steve Callahan, Jr., vice president – business development, Callahan. “With a unique combination of experience across affordable housing, higher education, and interior fit-outs, we were uniquely positioned to tackle this dormitory renovation and ensure students returned to a fully-functional building with modern bathroom facilities.”

Wessling Architects provided design services on this renovation project.