fully permitted Development site
Boston Realty Advisors is pleased to present 71 Bow Street, a fully permitted development opportunity in the heart of Union Square. This unique opportunity, in one of Massachusetts’ fastest growing markets, is within walking distance to the future Union Square Station, as part of the newly anticipated Green Line extension.
Conveniently located in proximity to Boston and Cambridge, the City of Somerville is aggressively pursuing a revitalization. The greater Boston market is home to World’s largest cluster of Life Science and Biotech Companies, complemented by a dominant higher educational presence. Between Union Square, Boynton Yards, Assembly Row, Kendall Square, Cambridge Crossing, and Hood Business Park, there are thousands of residential units and over 10 million SF of office & lab space that will be delivered within the next decade. With a new zoning code passed in December of 2019, Somerville is home to one of the strongest development pipelines in all of New England. Residents of 71 Bow Street will have access to all of this including the newly-constructed Encore Casino, which includes 15 bars and restaurants under 3 miles away.
71 Bow Street is currently permitted for 24 residential units and one commercial unit on the ground floor with 14 parking spaces. The existing lot of 10,781 SF, is already demolished and ready to be built, allowing the future owner a cost effective way to capitalize on rising rents and condo pricing in the area, both of which have increased significantly over the last 5 years.
71 Bow Street is offered for sale on an un-priced basis. We will be sharing the details of the site, permits, and zoning code with a “call-for-offers” to follow.