New developer acquires approved 97-unit project in South Boston for $1.65 million
Real estate developer Patrick McDevitt, Principal of Quincy, MA-based East Way Development, today acquired the approximately 50,000 square foot Boston Redevelopment Authority (BRA)-approved project site at 190-206 West Second Street in South Boston for $1.65 million as recorded in the Suffolk County Registry of Deeds. A three-story, 90,000 square foot mixed-use building containing 97 residential units and approximately 4,000 square feet of retail is approved for construction at 190-206 West Second Street; developer Peter Zagorianakos of Boston, MA-based Triad Alpha Partners received BRA approval to construct the building in July 2014.
The project site last sold in August 1996 for $120,000. McDevitt also secured a $1.32 million mortgage today for 190-206 West Second Street through First Commons Bank. McDevitt has developed projects including a four-unit luxury condominium building at 45 A Street in South Boston completed in 2014. The following is the deed for the sale of the 190-206 West Second Street project site to McDevitt: