Northland Set to Begin Construction of 315 Apartments in Newton Upper Falls

By Steve Adams
Banker & Tradesman

Northland received $220 million in financing for its Newton Upper Falls development, enabling the start of vertical construction at the 23-acre site.

JPMorgan Chase provided the construction loan for the first phase of the project, which includes an office-to-residential conversion of the former Saco Pettee Mill building into 100 apartments and construction of two new apartment buildings with an additional 215 units.

“Through dramatic shifts in the marketplace, rising construction costs and a global pandemic, we invested over $100 million in site and infrastructure improvements, as our commitment to this landmark development never wavered,” Northland Founder and Chairman Larry Gottesdiener said in a statement.

The first phase of the project also includes a 1-acre Village Green. The site near the corner of Needham and Oak street previously included a strip mall owned by Northland. The Saco Pette Mill building, previously the Clarks Americas headquarters prior to the shoe company’s relocation to Waltham, was originally envisioned to remain as 193,000 square feet of office space.

But following the pandemic, the Newton-based developer received approval in May 2025 to convert the former Saco Pettee Mill building into 100 apartments.

The site is approved for a total of 822 apartments, 145 of which will be income-restricted, and 96,000 square feet of retail space.

The company also has contributed $4.4 million to the city of Newton for the first installment of $8.35 million in community benefits, which will pay for road and sewer projects and funding for the new Countryside Elementary School project.

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