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FRH Realty Takes $23M Land Parcel in Woburn for 425-Unit Apartment Development
FRH Realty, LLC, has completed its $23.4-million purchase of 19.6 acres for the development of an approved 425-unit apartment community located at 316 New Boston Street in Woburn, MA.
Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller and procured FRH Realty, LLC, an affiliate of Fairfield.
The site is at the intersection of New Boston Road and the MBTA commuter rail line; 2.8 acres are in Wilmington and the balance is in Woburn.
The site was offered for sale without approvals, but the site had zoning that permitted higher-density multifamily development, given its close proximity to the Anderson-Woburn Regional Transit Center. Fairfield received approvals to construct 425 apartments with 15% set aside for households earning 80% or less of area median income.
A key component of the transaction was the construction of the New Boston Street Bridge, which provides direct access to the Anderson-Woburn Regional Transit Center.
- ◦Development
