by John Osborn ·
Thursday, August 13, 2026
MassDevelopment announced Thursday that Elite Home Builders, working with the neighborhood's original developer, NOW Communities, has closed on the financing needed to build a 46-unit apartment building at Emerson Green.
The building will rise at 77 Grant Road in Devens, where NOW Communities broke ground years ago but could not proceed. A fence now surrounds the property. Construction is expected to begin within weeks, now that Elite has combined a $4 million loan from MassDevelopment and a $6.5 million construction loan from Florence Bank to buy the parcel and finance the project.
The building, Emerson Green Residences, will rise three stories and span 56,000 square feet, with 23 of its 46 apartments permanently income-restricted. Harvard's Municipal Affordable Housing Trust is contributing $1 million toward the project, money that will deepen the affordability of 12 of those 23 restricted units, capping rents for four-person households earning up to 80% of the area's median income.
Harvard's subsidy of 12 units, roughly 26% of the building, is also expected to qualify all 46 apartments for the town's state subsidized housing inventory (SHI), under a rule that credits every unit in a rental complex once at least 25% are affordable. The Select Board's June approval was contingent on written confirmation from town counsel that all 46 units would be credited; that confirmation had not been reported as of this story.
Harvard Town Administrator Dawn Dunbar said the closing capped years of work by town officials. "This achievement reflects the dedication and collaboration of the Municipal Affordable Housing Trust, the Harvard Select Board, town staff, the developer, and many community partners, most notably MassDevelopment, who worked together to make this project a reality," Dunbar said, calling the trust's commitment a significant investment in Harvard's future.
The building will target a HERS energy rating of 55 or better, roughly 45% more energy-efficient than a standard new home. Elite Home Builders will also complete site work, including parking, landscaping, stormwater improvements, and utility installation, plus a stretch of Marshall Street between Grant Road and Marshall Lane and a sidewalk along Grant Road. Construction is expected to finish in 2027.
Cohen Babcock of Elite Home Builders, which will build, own, and operate the complex, said the company intends to deliver "a vibrant lifestyle rental community" while remaining an engaged Devens neighbor.
Rendering of the planned Emerson Green apartments at 77 Grant Road. (Courtesy Elite Homebuilders LLC)