The Davis Companies: Hitting a New Housing Sweet Spot
Since 1976, The Davis Companies (TDC), based in Boston, has...
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Oaktree Development LLC, based in Cambridge, Massachusetts, was originally founded in 1969 as Unihab, Inc. as a design/build company specializing in factory-produced, urban, multifamily housing, with a vision of maximizing quality and value by emphasizing good design. “Through the years, all our projects have embodied a sense of community not often found in residential development,” notes Dr. Ling Yi Liu, one of four partners in the firm.
Through a half-century of operation, Oaktree has been able to move fluidly with the times. “In the 1970s, my partners did condo conversions,” says Liu. “In the ’80s and ’90s, they worked on larger condos, along with assisted living projects. Since I joined Oaktree in ’99, we’ve continued to focus on community-focused condo projects.”
Liu proudly points to the fact that Oaktree has always been ahead of the development curve, building sustainable structures and using technology to enhance its efforts all along the way. For example, the firm adopted the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, standards for environmentally sustainable construction developed by the U.S. Green Building Council (USGBC), since its inception in 1998. “We were green before green was fashionable,” he asserts.
In its latest project, on New Street in Cambridge, Oaktree is incorporating Building Information Modeling (BIM) technology for design efficiency and modular building systems to improve construction quality and speed. The project also uses Oaktree’s newly introduced AbodeZ system, which, says Liu, “transitions design power from the architect/developer to the homeowner.
The units are “pre-engineered,” featuring interior walls that are neither structural nor plumbed. the walls are essentially flexible panels that can be moved as desired, which means that a homeowner can easily change his or her layout from a loft to a one bedroom, add another bedroom when children arrive or even enlarge a bedroom as they become empty-nesters.
This kind of flexibility requires strong support, and, for the past eight years, Oaktree has found it in Salem Five and Ken Foster, Oaktree’s Commercial Loan Representative. “Our working relationship is an excellent one,” Liu states. “We’ve had construction loans, we use Web Cash Manager and we’ve gotten insurance through Salem Five. In these difficult financial times, we’ve been fortunate to have strong projects with low construction and land costs. With a solid bank like Salem Five as our partner, we can continue to provide sustainable housing and create new jobs, even in this current economy.”
Sitting down with a Salem Five Commercial Banker to discuss a loan or line of any kind means exploring where you’re going and what you need to get there, and developing the right credit plan for your business. A Salem Five term loan can give you the capital you need to purchase equipment or vehicles, consolidate debt or make tangible business improvements. A Salem Five line of credit allows you to write yourself a loan whenever you need capital, have cash flow concerns or have a new business opportunity.
Learn more about Salem Five Commercial loans and lines of credit.