PROPERTY: Monarch Lofts
LOCATION: Lawrence, Mass., 30 miles north of Boston
OPENED: October 2011
DEVELOPER: Robert D. Ansin, CEO, Massinnovation
VISION: Redevelop the mill in three phases and spur the revitalization and economic sustainability of a downtrodden city.
ARCHITECT: Finegold Alexander + Associates
RENTS: $1,015 (870-square-foot studios) to $1,620 (2,000-square-foot two-bedrooms)
COOLEST FEATURE: Volume of space in individual units to permit some mezzanines
STILL TO COME: 50 apartments plus commercial space (phase 2) before the end of 2012; (and phase 3) 300 apartments, before the end of 2013