The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals.
The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive reported. Of its 948 parking spaces, approximately 350 are currently available.
In December 2024, the City of Lynn and MBTA unveiled an initial concept that called for retaining part of the garage for parking while demolishing the remainder to make way for transit-oriented development.
The city’s priorities for the property include a mix of residential, commercial, and transit uses, along with businesses and amenities to serve residents, workers, and visitors. MBTA’s RFQ also calls for inclusionary zoning requiring 10% of housing units to be affordable to households earning 60% of the area median income.
Photo courtesy of MBTA.
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
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Brightshore Capital LP, formerly GTIS Partners, has acquired DŌMI, a newly constructed, 190-unit luxury multifamily property located at 29-24 40th Ave. in Long Island City, for slightly more than $143 million. The acquisition through Brightshore’s Opportunity Zone Fund II was financed with a $98.5-million loan from Affinius Capital. The seller was a joint venture of...
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Harrison Street Asset Management and Harbert Management Corporation’s South Bay investment team have announced a joint venture to develop two senior housing communities in Pasadena, California and Potomac, Maryland. The Palmer in Pasadena and The Belle Mare in Potomac are designed to add 80 and 94 units to their respective communities. Together with projects already under...
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