Condominium Project in Boston Gets Thumbs Up
- Oct 25, 2016
Boston—The Boston Planning & Development Agency recently announced that a six-story, 40-unit condominium project in Dorchester, Mass., has been approved during the board of directors’ monthly October meeting.
Located at 1258-1272 Massachusetts Ave., the project is being developed by Roseclair Boston LLC with the help of local architecture firm RCA. Consisting of two interconnected buildings, the property will bring 35 market-rate and 5 affordable residential units, as well as 37 off-street parking spots. Floor plans will range from 585-square-foot studios to 907-square-foot two-bedroom units. The buildings will also include roughly 1,500 square feet of sub-dividable ground-floor retail space.
The 0.46-acre plot is currently occupied by Credit Auto Sales Inc., a used car dealership. According to the submitted project review, construction is slated to break ground this year, with a completion date close to the end of 2017. The developer estimates the overall cost of the project at roughly $12.5 million, with at least 45 construction jobs being created in the process. Roseclair Boston LLC is looking to finance the development “using traditional institutional lender financing from East Boston Savings Bank,” the application states.
The condominium buildings will be situated close to several large retail options, including the nearby South Bay Center. Within a 15-minute walk from the JFK/UMass station and Interstate 93, the property will offer quick access to downtown, Harvard Square and other city destinations.
The Dorchester community will also be located within walking distance of South Bay Town Center, Edens’ 1 million-square-foot mixed-use development. The Stantec-designed project received the official green light this May, broke ground in August and is slated for completion by mid-2018.
Image courtesy of the Boston Planning & Development Agency