Preservation of Affordable Housing (POAH) and Dorchester Bay Economic Development Corporation (DBEDC) have broken ground for Columbia Crossing, a mixed-use development at the site of the historic Dorchester Savings Bank Hall on Columbia Road in Upham’s Corner. The POAH/DBEDC team was selected through a competitive, community-driven RFP process.
The 48-unit affordable apartment building will be built in the current parking lot behind the bank. The development will include 3,500 square feet of commercial space. The bank hall space at 568-574 Columbia Rd. will be refurbished and expanded into a modern exhibition space.
The Columbia Crossing development is supported by funding from both public and private sources. “The creation of 48 new homes in Uphams Corner, featuring the adaptive reuse of the Dorchester Savings Bank building, will ensure that Dorchester residents continue to have affordable options to call home,” said Juana Matias, Massachusetts Secretary of Housing and Livable Communities.
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
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Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
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