Image courtesy of Petruzziello Properties

Petruzziello Properties, a subsidiary of Supreme Development, announced it has broken ground for their newest project, The Block at 22 Everett St. in Westwood.

The project, funded by a $30.2 million loan from South Shore Bank and Dedham Savings, is Westwood’s first project to be submitted to the state for certification under a housing production plan designed to comply with the MBTA Communities zoning reform law.

The mixed-use development will include 160 apartments, of which 24 will be affordable housing. There will also be 12,000 square feet of retail space as well as walking trails, sports courts and outdoor gathering spaces, Petruzziello said in its announcement.

“We’re excited that Dedham Savings and South Shore Bank both recognize the value of this project and its positive impact on the community,” Giorgio Petruzziello, Supreme Development president and CEO, said in a statement. “We have mutual values and are committed to fostering community growth and vitality.”

Petruzziello Properties has spearheaded the revitalization of Dedham Square and the redevelopment of Islington Center in Westwood while also developing several mixed-use buildings in surrounding communities.

Earlier this year, Dedham Savings and South Shore Bank came together under a single mutual holding company, 1831 Bancorp, with about $4.3 billion in assets.

“As individual banks and together as a unified organization, our potential impact on the region is significant,” South Shore Bank CEO Jim Dunphy said in a statement. “The funding we provide for initiating projects like this one will eventually translate into housing, improved transportation access, and substantial positive changes to many lives within our community. Additionally, we possess the liquidity and capacity to continue supporting viable projects like this one.”