$14 Million CubeSmart Self-Storage Facility Approved for Development
- Jan 30, 2015
By Veronica Grecu, Associate Editor
The Boston Redevelopment Authority (BRA) green-lighted a project proposal to transform the vacant warehouse at 99 Rivermoor Street in West Roxbury off of VFW Parkway into a high-quality self-storage facility with new loading areas and accessory uses.
The $14 million project will be developed by Newton-based VLR-Roxbury LLC, which also owns the six-acre site. According to PropertyShark, VLR-Roxbury purchased the property in November 2014 for $6.86 million from previous owner M&H Holdings LLC.
The facility at 99 Rivermoor Street will be managed by CubeSmart, a self-storage real estate investment trust that owns and manages self-storage facilities in the Greater Boston area and operates approximately 600 facilities across the U.S. As detailed in the Project Notification Form, the existing one-story warehouse and office structure and the associated surface parking spaces have a combined square footage of 85,614.
VLR-Roxbury will redevelop the current structure in two phases. Phase I, which is expected to begin in the following months, calls for the construction of a single story, 2,500-square-foot addition at the corner of the existing building at Rivermoor Street, Gardner Street and Charles Park Road that will serve as office and high security storage space. Additionally, approximately 12,000 square feet of existing front office area in the former warehouse will be converted into storage use. During Phase II, VLR-Roxbury will add a second story encompassing nearly 66,270 square feet of space.
When fully completed, the CubeSmart facility at 99 Rivermoor Street will have 154,376 square feet of space with around 1,100 self-storage units, as well as 77 on-site surface parking spaces and new off-street loading areas, and storage for 75 recreational vehicles. Jordan Architects of San Clemente, Calif., designed the project, while Red Hill Construction Services will oversee construction management at the site. The project is estimated to create up to 60 construction jobs.
Rendering credits to Jordan Architects via BRA