Calare Properties has sold a 5.63-acre site suitable for multi-family development in Stoneham, Massachusetts. The site, which includes a warehouse/office building, a garage, and parking spaces, was sold to a national apartment developer. The price was not disclosed. 

Located at 95 Maple St, Calare purchased the property in 2020 and worked on re-permitting efforts to allow for multi-family housing development. The proposed plans for the site include approximately 270 residential units.  

“When Calare purchased 95 Maple three years ago, we recognized the incredible opportunity available at this site, which offers a highly desirable location for a range of users and optionality for future development,” said Tim Collis, VP of acquisitions at Calare.