BRA OKs New Multifamily Projects from Corcoran Jennison, Trinity Financial
By Veronica Grecu, Associate Editor
The Boston Redevelopment Authority (BRA) approved this week several real estate projects that, combined, will bring around 1,200 housing units across Boston.
One of the newly announced projects is The University Place Residences, a $60 million development that will replace a 4.1-acre surface parking lot at 140-150 Mt. Vernon Street, near the University of Massachsetts in the Columbia Point area of Dorchester. According to the Project Notification Form, the development team led by Corcoran Jennison Company, Inc., will have 184 rental apartments, including 24 affordable housing units, and 10,000 square feet of ground floor retail space. In addition, the plans designed by local architecture firm Dimella Shaffer include a below grade garage with 76 parking spaces, as well as a surface parking area for seven vehicles.
The BRA approved a similar housing project that will be developed on a vacant lot on the East Boston waterfront. Developer Trinity Financial plans to invest $80 million to create almost 200 units of for-sale housing—13 percent of which will be affordable—at 102-148 Border Street, between Central Square and the newly redeveloped Maverick Landing. Dubbed Boston East, the development is a joint venture between Trinity and the East Boston Community Development Corporation. As with The University Place Residences, Boston East will include underground parking for 167 vehicles, while the surface parking area will have 26 spaces. Aside from the residential component, Boston East will feature an art gallery suitable for exhibitions and community events.
Designed by ICON architecture, inc. to achieve LEED Silver certification, the 311,428-square-foot construction will reflect a traditional East Boston waterfront structure, with the façade built of traditional building materials.Tags: affordable housing, Architecture/Design, Boston East, Boston Lead Story, BRA, Columbia Point, Conventional - Market Rate, Corcoran Jennison Company, Developers, Development, Dimella Shaffer, Dorchester, East Boston, Finance/Investment, Green, ICON architecture, mixed-use, multi-family, Professional, Regional, Residential, The University Place Residences, Trinity Financial