Heritage Properties, based in Lowell, Massachusetts, is entering a new phase of growth, rolling out an in-house construction division and assembling a veteran leadership team to pursue multifamily developments across New England.
The real estate investment, development, and management company seeks to address a widening market gap between entitled multifamily projects that are ready to build and the lack of capacity to move forward in the construction process. The new division will focus its initial efforts on 50- to 250-unit multifamily developments throughout Lowell, southern New Hampshire, and New Hampshire’s Seacoast region. It will handle estimating, project management, and operations to provide clients with faster operations as well as direct communication and collaboration.
“We’re thrilled to enter into this next chapter of growth at Heritage Properties while welcoming our new team members,” said president Jeff Bush. “Over the course of our company’s 45-plus-year history, we’ve built the relationships, the market knowledge, and now the team to step in as a true partner during the construction process.”
Leading the new team will be Scott March, vice president of business development. March brings a combination of field experience and business expertise, beginning his career as a carpenter’s apprentice and being a general contractor in Philadelphia before relocating to New England. For seven-plus years, he led estimating operations across a $40 million to $60 million annual pipeline for a large regional general contractor.
March is joined by Patrick Monahan, Nate Latiolais, and Luke Brown, who bring over 30 collective years of multifamily experience across Connecticut, Massachusetts, and New Hampshire to the team. Together, the team has managed developments from $8.5 million to $50 million and overseen the delivery of over 2,800 residential units.
“I look forward to bringing the operational expertise I’ve developed throughout my career to Heritage’s new construction division,” said March. “We’re focused on creating value at every stage and being adaptable, all while maintaining the direct, accessible partnership that has defined Heritage Properties for almost five decades.”
The new division is working to complete construction on The Emery, Heritage Properties’ 37-unit multifamily community in Lowell, which is scheduled to welcome residents in September. Following completion of The Emery, it is slated to begin work on a redevelopment project in downtown Lowell.