1943 Dorchester Avenue
Update
06/15/17
Approved Ashmont mixed-use development proceeds with developer’s acquisition of project site and financing
The approved 1943 Dorchester Avenue mixed-use development, located in Dorchester across from Ashmont Station, is moving forward following developer Peregrine Group’s acquisition of the 0.42-acre project site for $1.3 million as well as $13.2 million in construction financing. The sale amounts to $3,095,238.10 per acre; seller Codman Square Health Center acquired the site in June 1981 for $69,900, or $166,428.57 per acre. HarborOne Bank provided construction financing for 1943 Dorchester Avenue; The Property and Casualty Initiative, LLC provided an additional $1.3 million in financing towards 1943 Dorchester Avenue’s acquisition. Peregrine Group will construct a new five-story building at 1943 Dorchester Avenue featuring 64 apartment residences and over 2,100 square feet of ground-floor retail. Construction of the building is expected to commence this year.
