Construction starts on 3200 Washington Street mixed-use development in Jamaica Plain
Berkeley Investments has confirmed that construction of the 100,000-square-foot 3200 Washington Street mixed-use development in Jamaica Plain in now underway. 3200 Washington Street will feature 73 apartment residences and approximately 4,500 square feet of new ground-floor commercial space in two main mixed-use buildings joined by a common lobby, as well as three condominium residences in a separate triple-decker home. Demolition of existing buildings on site is nearing completion, after which construction of the buildings' foundations will begin. Financing for 3200 Washington Street is provided by Santander.
3200 Washington Street is expected to open in early Fall 2018. Residences will range in size from 450 square feet to 1,300 square feet, with rents ranging from $2,000 to $3,000 per month. A total of 12 residences at 3200 Washington Street will be designated affordable, including nine apartments for households at 70% and 100% of area median income (AMI) and three 3-bedroom condominiums for households at 70% and 100% AMI.
3200 Washington Street will be located in Jamaica Plain’s vibrant, culturally-diverse Egleston Square neighborhood, steps from the MBTA Orange Line and Southwest Corridor Park. “[We’re] thrilled that 3200 Washington is part of such an exciting neighborhood,” says Berkeley Investments President Young Park. “Access to the MBTA Orange Line and the Southwest Corridor Park for biking, walking and running make this a highly desirable location for renters who want a tremendous value so close to the city of Boston, in a neighborhood that’s becoming more vibrant each day with new restaurants, stores and cafes. We’re delighted that our future retail spaces will add to this growing synergy.”
3200 Washington Street will strengthen the growing Egleston Square community with new mixed-income housing options and street-level retail. “It’s exciting to be a part of the energy here on Washington Street, and we look forward to working with community leaders to enrich this neighborhood,” says Berkeley Investments Development Project Manager Esther Byun. “[We are] proud to support this development project. Not only will it add new businesses to the area’s commercial mix, but it also incorporates affordable rental and home ownership options while activating a site that’s been vacant for years,” says Egleston Square Main Street Executive Director Luis Edgardo Cotto.
Financing secured for 3200 Washington Street mixed-use development in Jamaica Plain, new renderings revealed
Berkeley Investments has secured $21.5 million in construction financing for the approved 100,000-square-foot 3200 Washington Street mixed-use development in Jamaica Plain, allowing construction of the project to proceed. Santander Bank is providing financing for the project; demolition of three existing abandoned one-to-story commercial buildings is now underway. 3200 Washington Street will feature 73 apartment residences with ground-floor retail and is located steps to Egleston Square. New renderings of 3200 Washington Street have been revealed depicting the project’s modern aesthetic and amenities including multiple resident lounges and a rooftop terrace; these renderings are posted above.
Berkeley Investments and Nixdorf Family acquire approved 76-unit Egleston Square project for $6.2 million
In a newly formed partnership (3200 Washington Street LLC), developer Berkeley Investments and the Nixdorf Family of Germany today acquired the approved 3200 Washington development project in Egleston Square for $6.2 million as recorded in the Suffolk County Registry of Deeds. As approved in August 2015, 3200 Washington Street will feature 76 residential units, including 18 units designated affordable, with 4,500 square feet of ground-floor retail across three new buildings situated on a 32,412 square foot site; additional information about the project can be found above. The following is the deed for Berkeley Investments and the Nixdorf Family's acquisition of 3200 Washington: