Boston’s Allston Yards Mixed-Use Development Gets Underway
Allston Yards — a project of Stop & Shop with New England Development as master developer and in partnership with Bozzuto and Southside Investment Partners — is a go. When complete, the development will include 117,000 square feet of retail, 350,000 square feet of office and lab space, 868 residences and a one-acre community green.
The development partnership has closed on Parcel A and Parcel B, located in Boston’s Allston neighborhood. In addition, the partnership has closed on Building A’s financing, which was arranged by JLL and provided by Bank of America as administrative agent on behalf of the lenders, Bank of America and TD Bank.
Construction on Building A, a 165-unit residential building, will begin in November 2021. Construction on a planned commercial office/life science building on Parcel B, is expected to begin third quarter 2022.
Building A will contribute $1.25-million dollars to the Allston-Brighton Homeowner Fund created by Allston Yards to increase affordable homeownership opportunities in Allston-Brighton.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.