Urban Edge acquires future home of 36 residences in Jackson Square for $1.2 million

Last Monday (August 15th, 2016), Roxbury-based housing developer Urban Edge acquired a 12,858 square foot site in Jackson Square, located at 1599 Columbus Avenue, for $1.2 million as recorded in the Suffolk County Registry of Deeds. Urban Edge also secured a $1.2 million mortgage for 1599 Columbus Avenue through Community Economic Development Assistance Corporation. Per the developer's Consolidated Financial Statements dated June 27th, 2016, Urban Edge intends to also acquire an adjacent 3,138 square foot city-owned parcel and construct 36 residential units across the combined 0.37-acre site.

1599 Columbus Avenue is the latest development opportunity to come to Jackson Square. Urban Edge recently completed Jackson Commons, a Jackson Square mixed-use development project containing 37 rental residential units, ground-floor retail, a community learning center and Urban Edge's new headquarters. Urban Edge will also construct Walker Park Apartments, a $17.7 million residential project in nearby Egleston Square that will feature 49 apartments across two new buildings. The Boston Redevelopment Authority (BRA) approved Jackson Square Site III Phase 3, a mixed-use development project containing 144 residential units and 2,400 square feet of retail located steps from 1599 Columbus Avenue, for construction at last Thursday (August 11th, 2016)'s board meeting. Across from 1599 Columbus Avenue, 75 Amory Avenue, a 39-unit residential apartment building, is under construction and a historic factory building that sits on 92,271 square feet of land at 41-75 Amory Street is owned by developer Mordechai Levin. The following is the deed for Urban Edge's acquisition of 1599 Columbus Avenue:

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