A Norfolk Superior Court judge has ordered a multifamily developer hired to helm the troubled redevelopment of the former South Weymouth Naval Air Station to pay $63 million for failing to pay for a range of development and upkeep costs on the property before the firm was removed from its master developer role.
Lenders have scheduled another foreclosure auction at Union Point on the South Shore, the latest round involving 214 acres zoned for up to 8 million square feet of commercial development.
LStar Communities isn’t the first company to come up short trying to crack the code of what’s needed to attract commercial development at Union Point, the 1,450-acre former naval air station in South Weymouth. It likely won’t be the last.
The former South Weymouth Naval Air Station has been renamed by its master developer, LStar Communities, as Union Point.
