A building permit valued at $2.5M has been pulled to kick off construction for the mixed-use project at 142-144 Old Colony Avenue in South Boston. The existing building will be demolished to make way for a 6-story building to include commercial space and 19 residential units. the building will also include parking for 17 cars and a common roof deck.
Mixed-Use South Boston Property Secures $7.29M Construction Loan
A construction loan of $7.29M has been closed for the 142-144 Old Colony Ave. project in South Boston. The approved 6-story building will feature 19 residential units along with over 1,100 square feet of commercial space. Amenities on-site will include a common meeting and library hall plus a common roof deck. The transaction was arranged by FinanceBoston, a local real estate capital advisory firm. “The financing was completed with competitive terms from a local bank who saw my client’s vision for the property, “ said Doug Landry, Partner at FinanceBoston. “In South Boston, there is a shortage of new construction rental apartments outside of the high cost/high amenity buildings. I expect the lease-up to go very quickly for this location, and I look forward to working with this team again in the future.”
Demo Permit App Filed for 142-144 Old Colony Ave. in Southie
A demo permit application has been filed to remove the existing two-story commercial building located at 144 Old Colony Ave. in South Boston. The demolition will make way for a new mixed-use project to include just over 1,100 square feet of ground-floor retail space plus 19 apartments. Building amenities will include a common meeting, library hall and roof deck. There will also be 10 parking spaces on-site.
BPDA Approves 142-144 Old Colony Project in South Boston
The BPDA has approved the mixed-use project at 142-144 Old Colony Avenue in South Boston. The plans for the development call for a 6-story building to replace the existing 2 story commercial property on the site. Along with 19 residential units, the building will also feature just over 1,100 square feet of ground-floor retail. Resident amenities are set to include a roof deck and common meeting/library space.
A new six-story 19-unit mixed-use building to be situated at 142-144 Old Colony Avenue has been proposed in South Boston.
The ground level will contain 1,116 square feet of commercial retail space, two stairwells, a residential foyer, a room for bicycles and storage, a spot for trash bin storage and an elevator. The second through sixth floors would contain the building’s 19 residential apartments. The second floor will also contain a 1,061 square foot common meeting and library hall with an adjoining toilet and two small decks. The roof would have a common roof deck accessed by an elevator and two stairwells with headhouses. The building will also contain a pit level and at grade garage with spaces for 10 vehicles, with entrance/egress on W 9th Street.
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