Auction Set to Close at South Weymouth Housing Site
The federal government has received a dozen bids for a 51-acre parcel in South Weymouth that’s been the subject of a jurisdictional dispute with local officials.
The federal government has received a dozen bids for a 51-acre parcel in South Weymouth that’s been the subject of a jurisdictional dispute with local officials.
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.
The Southfield Redevelopment Authority will receive nearly $1 million a year to help pay for its operations after entering an exclusive negotiating agreement with the potential new master developer at the 1,450-acre former air base.
A partnership between Brookfield Properties, Boston-based New England Development and Pinehills Managing Partner Tony Green will lead the latest attempt to redevelop the 1,450-acre Southfield parcel on the South Shore.
Two development teams are seeking to restart the Southfield project at the 1,450-acre former South Weymouth Naval Air Station with a larger housing component while reducing commercial space.
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.
LStar has struggled to attract development to the former South Weymouth Naval Air Station property.
State-sponsored construction of a half-mile parkway at Union Point has begun, improving access to one of the largest undeveloped parcels in Greater Boston and prompting new hopes of economic development after two decades of false starts.
The former South Weymouth Naval Air Station has been renamed by its master developer, LStar Communities, as Union Point.