299 Broadway
Update
10/16/23
Mark Development Closes on Somerville Development Site for $22M
Mark Development has acquired the abandoned Star Market property at 15 Temple St./299 Broadway in Somerville for $22,000,000. The developer is planning a mixed-use project for the site to include 288 residential units with over 13,000 square feet of retail space. Plans also include 3,000 square feet of community space and 765 square feet of Arts & Creative Enterprise space. The buildings will be designed to meet Passive House certification.
Boston Realty Advisors, the largest independent real estate brokerage in Massachusetts, brokered the sale. “It was a pleasure working with both the buyer and seller on this transaction," said Jason S. Weissman, Principal and Founder of Boston Realty Advisors. "The development partnership of Mark Development and Beacon Communities will add much needed affordable housing to the City of Somerville."
