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Image courtesy of Colliers International
A fully-approved multifamily development site in South Boston is being marketed for sale after receiving approval for 38 apartments and ground-floor retail space.
Cushman & Wakefield is marketing the 400 West Broadway property, which is approved for 36 apartments and a 4,095-square-foot retail space in a five-story, 43,210-square-foot building. The development would replace a 3-story building on the 9,560-square-foot lot.
The Boston Planning and Development Agency approved the project by developers Broadway RJTP LLC and designed by Embarc Studio in 2019.
Cushman & Wakefield’s multifamily team led by Chris Sower is representing the sellers, a partnership of Wallace Properties and Boston Property Ventures.
“South Boston has proven to be one of the most resilient residential submarkets in New England during the COVID-19 pandemic. The neighborhood’s proven fundamentals, coupled with numerous upcoming transformative development projects that will ultimately bring thousands of jobs to the immediate area, will continue to make South Boston an extremely attractive residential investment market,” Sower said in a statement.
