Dorchester Development Secures $15.25 Million in Financing
The development at 951-959A Dorchester Ave has secured $15.25 million in construction financing via Needham Bank.
The approved five-story, 43,800-square-foot mixed-use development will feature 38 apartment residences and 6,670 square feet of ground-floor retail. Apartments would include studios, one-bedrooms, and two-bedrooms. Retail would include a new, larger space for the existing Dorchester Market located on-site.
LOI Filed for 239 Unit Mixed-Use Project in Dorchester
Cornerstone Real Estate has filed an LOI for a 3 building mixed-use project on 1.3 acres in Dorchester near South Bay. The project would feature around 280,000 square feet and offer 239 residential units along with retail and office space. The development will combine 13 parcels along Willow, Baker, and Fields Court currently home to several industrial buildings and smaller residential properties.
Site Clear at 951-959 Dorchester Ave.
Demo of two single-story commercial buildings has wrapped up at 951-959 Dorchester Avenue to make way for the Approved five-story, 43,800-square-foot mixed-use project. The upcoming building will feature 38 apartments and over 6,600 square feet of ground-floor retail space.
BPDA approves project to create 38 new rental units in DorchesterFROM THE BPDA:Proposal is a mixed-use development consisting of 38 residential units with 26 below-grade parking spaces and 6,670 SF of commercial retail space for a market and a restaurant.Live: 38 new housing units, five new affordable housing units, new local restaurant, and bar, renovated local community marketWork: 40 construction jobs, 6,670 square feet of street-level retail and commercial spaceConnect: 26 parking spaces, transit-oriented development, adjacent to Upham’s CornerSize: 37,350 square feetThe 951-959A Dorchester Avenue project will consist of a five-story, mixed-use building with 38 residential rental units. As currently proposed, the units will consist of 33 market rate units and five Inclusionary Development Policy Units (IDP Units). There will be a mix of 11 studio units, 19 one-bedroom units, and eight two-bedroom units.The ground floor of the project will have 6,670 square feet of commercial retail space that provides new space for the long-existing Dorchester Market and an improved restaurant use. In addition, there will be 26 off-street garage parking spaces located on the project site. A trash and recycling room will be located within the building, as well.The project will also provide $20,000.00 towards community benefits including $10,000 to the City’s Fund for Parks, $5,00 to the Edward Everett elementary school, $3,000 to the Dot Art nonprofit and $2,000 to the Dorchester Little League (formerly the Savin Hill Little League).
Renderings revealed of proposed mixed-use building in Dorchester’s Savin Hill neighborhood
New renderings have been revealed of 951-959A Dorchester Avenue, a proposed mixed-use building which would be located at the intersection of Dorchester Avenue and East Cottage Street in Dorchester’s Savin Hill neighborhood. The $6 million five-story building would contain 38 apartment residences and 6,670 square feet of ground-floor retail, which would include new space for the existing Dorchester Market and a new restaurant replacing the existing Tom English bar. Developer Cornerstone Real Estate has filed plans for the proposed building with the City of Boston, who is now reviewing the project.
Six-story mixed-use development proposed at site of Savin Hill market and bar
Cornerstone Real Estate has revealed preliminary plans to construct a six-story mixed-use building at 951-959A Dorchester Avenue, a 0.27-acre parcel in Dorchester’s Savin Hill neighborhood on which stand two single-story retail buildings home to the Dorchester Market and Tom English bar. Cornerstone’s initial proposal calls for 40 condominium residences, including 20 studios, 14 one-bedrooms, and 6 two-bedrooms, with two ground-floor retail spaces and 22 underground parking spaces. Cornerstone currently favors condominiums to rental units, but is open to rentals based on local feedback. Cornerstone acquired 951-959A Dorchester Avenue in August 2017 for $3 million in cash.
Cornerstone intends to construct a new home for Dorchester Market on the proposed building’s ground floor, and potentially expand the market to include a cafe. The Tom English bar would be replaced by a casual dining option. The proposed project will need to receive approval from the Boston Planning & Development Agency (BPDA) in order to move forward with construction.
Cornerstone acquires 0.4-acre South Bay development site for $3.5 million
Residential real estate investor and brokerage Cornerstone Real Estate has closed on the acquisition of a 0.4-acre development site in Dorchester’s South Bay section, located at 79 Willow Court & 3 Baker Court, for a combined $3.5 million as recorded in the Suffolk County Registry of Deeds. East Boston Savings Bank provided Cornerstone with $2.275 million of financing for the acquisition. Cornerstone acquired the 0.3-acre 79 Willow Court for $2.5 million; 79 Willow Court last sold in July 2007 for $479K. Cornerstone acquired the 0.1-acre 3 Baker Court for $1 million; 3 Baker Court last sold in September 2013 for $300K.
Willow Ct, LLC, a limited liability company registered to Adam Sarbaugh of Mission Hill developer Cornerstone Real Estate, has closed on the sale of a 5,116 square foot lot at 68 Willow Court in Dorchester. The lot is located steps to the proposed South Bay Town Center and 85-93 Willow Court developments in a red hot corner of Dorchester. Sale price was $1,175,000. Deed for the sale is posted below: