Residence at Readville Station located in Boston's Hyde Park neighborhood is now under official review.
The proposed redevelopment program consists of the construction of approximately 305 residential units in two buildings providing a mix of rental and homeownership, with accessory garage parking for 221 vehicles. Including 4,200 square feet of restaurant/retail space with other amenities and services for building residents.
Construction is expected to start in the fall of 2019 and take 18-months to complete.
FinanceBoston Positions $3,300,000 Pre-Development Loan for the Emerging Boston Neighborhood of Hyde Park
FinanceBoston, a Real Estate Capital Advisory Firm, announced the successful financing of a $3,300,000 Pre-Development plan in the Hyde Park Neighborhood of Boston. FinanceBoston worked with Developer, Ad Meliora LLC, to identify, structure, and negotiate financing for the mixed-use project through entitlements.
Boston is seeing greater levels of development near rail systems as employees prefer alternative transit options. Recognizing this trend, Managing Partner Fergal Woods commented, “Given the site's proximity to the Readville train station, this will unlock additional development capacity in the Hyde Park neighborhood.”
FINANCEBOSTON- a Real Estate Capital Advisory firm with roots in Boston. FB works with cutting-edge developers to help them unlock the potential of their neighborhoods.
FinanceBoston is pleased to work with both new and established developers, those who share the vision and ambition to realize the potential for high-quality neighborhoods in the Boston area and beyond. At every stage of the business cycle, FB will help source the appropriate financing, manage its deployment and ensure the successful delivery of the project.
The proposed redevelopment program includes the construction of approximately 300 residential units in two new buildings, providing a mix of rental and homeownership, with accessory parking spaces, amenities, and services for building residents.
Developer buys 119,034 square foot Hyde Park parcel next to Readville transit station for $2.1 million
Local developer Ad Meliora has acquired 1717 Hyde Park Avenue, a 119,034 square foot parcel in Hyde Park located next to the Readville transit station on the MBTA Fairmount Line. Sale price was $2.1 million.
UPDATE: Universal Hub reports that Ad Meloria recently held an informal community meeting in which preliminary plans were presented for a 240-unit apartment building at 1717 Hyde Park Avenue. 31 units would be designated affordable and rented to households making no more than 70% of area median income (AMI).
Three buildings rising up to five stories are currently proposed along with a five-deck parking garage with 400 parking spaces. The buildings would have special insulation to buffer noise from passing trains. A formal Letter of Intent has not yet been filed for the project. The following is a preliminary rendering by project architect Prellwitz Chilinski:
Ad Meliora is currently co-developing Washington Village, a major proposed South Boston development project that would bring approximately 650 residential units and 98,600 square feet of retail space to Andrew Square across 217,800 square feet of land. The following is an aerial view of the proposed Washington Village:
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