L&G’s Asset Management business in the U.S. has acquired a development site in Concord, Massachusetts, and plans to begin construction on a new two-building, 201-unit multifamily community.

The investment and property development is being made on behalf of L&G’s Institutional Retirement business, which is deploying long-term retirement capital to support new housing supply. The project represents the first funding of a new development in the U.S. for L&G’s Institutional Retirement business.

It also builds on Institutional Retirement’s recent multifamily investments, including Alder in the Denver metro area and Arkadia in downtown Chicago. Construction is expected to begin this fall, with the first building targeted for completion by the end of 2028 and the second expected to follow in 2029.

L&G is partnering with Taurus Investment Holdings as the developer for the project. The firm originated the development opportunity and will oversee the project’s execution through construction and delivery, working alongside its energy affiliate, EcoSmart Solution.

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