{"id":1004112978,"date":"2015-02-08T20:43:37","date_gmt":"2015-02-09T04:43:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=323722"},"modified":"2020-04-14T02:36:56","modified_gmt":"2020-04-14T10:36:56","slug":"land-acquired-for-80-unit-multifamily-asset-in-allston","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/land-acquired-for-80-unit-multifamily-asset-in-allston\/","title":{"rendered":"Land Acquired for 80-Unit Multifamily Asset in Allston"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

Waypoint Companies\u2019 80-unit apartment community project<\/a>\u00a0approved by the BRA last year is now one step closer to breaking ground.<\/p>\n

\"61-83<\/a><\/p>\n

61-83 Braintree Street – Allston<\/p>\n<\/div>\n

The Boston-based developer has entered a joint venture with the Grossman Companies, Inc. of Quincy to acquire the 0.7-acre construction site in the Hub\u2019s Allston neighborhood. The property located at 61-83 Braintree Street was purchased for $3.25 million from an entity identified by PropertyShark<\/a> as 61-83 Braintree St. Realty of Watertown.<\/p>\n

The newly formed partnership is seeking investors who will provide 58 percent of the equity to acquire the land and fund soft costs until it either sells the permitted land or closes on a construction loan.<\/p>\n

Thanks to the site\u2019s proximity to downtown Boston and Cambridge, various suburban office locations and New Balance\u2019s Boston Landing project<\/a> which is currently under construction, the new multifamily project is estimated to become one of the catalysts of Boston\u2019s 21st<\/sup> century development. Designed by Charlestown-based Neshamkin French Architects, the $26 million project will target recent college graduates, young professionals and grad students. Most of the apartments\u201451 of the 80\u2014will be 568-square-foot studio units, while the remainder will be mostly one- and two-bedroom units raging in size from 840 to 1,122 square feet, and a number of three-bedroom units of 1,173 square feet.<\/p>\n

The project will also include an underground garage with 68 parking spaces, a fitness center and a common roof deck. A system of solar panels installed on the rooftop will help reduce utility costs.<\/p>\n

Rendering via the Waypoint Companies<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Waypoint Companies’ 80-unit apartment complex project that was approved by the BRA last year is now one step closer to breaking ground.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21742],"tags":[],"class_list":["post-1004112978","post","type-post","status-publish","format-standard","hentry","category-boston","category-latest"],"acf":[],"yoast_head":"\nLand Acquired for 80-Unit Multifamily Asset in Allston - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/land-acquired-for-80-unit-multifamily-asset-in-allston\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Land Acquired for 80-Unit Multifamily Asset in Allston\" \/>\n<meta property=\"og:description\" content=\"Waypoint Companies’ 80-unit apartment complex project that was approved by the BRA last year is now one step closer to breaking ground.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/land-acquired-for-80-unit-multifamily-asset-in-allston\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-09T04:43:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-14T10:36:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/61-89-Braintree-Street-Allston1.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Land Acquired for 80-Unit Multifamily Asset in Allston\",\"datePublished\":\"2015-02-09T04:43:37+00:00\",\"dateModified\":\"2020-04-14T10:36:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/\"},\"wordCount\":262,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/61-89-Braintree-Street-Allston1.jpg\",\"articleSection\":[\"Boston\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/land-acquired-for-80-unit-multifamily-asset-in-allston\\\/\",\"name\":\"Land Acquired for 80-Unit Multifamily Asset in Allston - 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