Acquisition Clears Way For 130-Unit Residential Project In Hanover

Five Mark Properties of Middleton and Boston-based Novaya Real Estate Ventures have acquired a multifamily development site in Hanover for $4.35 million.

The 60-acre property, previously known as Hanover Villages, has been renamed Sconset Landing. An eight-phase project consisting of 130 townhouse and condominium units is planned. The project off Route 53, which will include onsite fitness and community centers, is fully permitted.

“We are extremely excited about the team that we have assembled and the product that will be delivered,” Shawn Hawthorne, an executive at Novaya, said in a statement. “We expect the quality of construction and design to be well received by the market.”

Hawthorne will oversee the entire project along with Ralph DiGiorgio, Rick Nekoroski and Tom O’Connell of Five Mark.