- For sale
Colliers International’s Multi-Family Advisory Group is pleased to offer for sale 1015 Plymouth Street, a fully approved 144-unit age-restricted multifamily development opportunity in Abington, Massachusetts. The property is strategically located walking distance to Abington’s MBTA commuter rail station, convenient to regional highways (Route-3 and Route-24) and close to shopping, dining and retail amenities along Route 123, as well as convenient to employment centers and amenities in the surrounding communities. The site is situated adjacent to the Abington Senior Center, a vibrant community based organization that provides support, services and activities to seniors in the region and presents significant synergies with the property.
1015 Plymouth Street offers an ideal location for new rental housing and the project will satisfy unmet demand for quality senior housing on Boston’s South Shore. With virtually no newly built senior housing on the South Shore and the area’s underlying demographics, featuring above average incomes and home values and a large population over the age of 55, the project i s well positioned for absorption and long-term appreciation as a senior oriented community.
DEVELOPMENT & APPROVALS
The project was permitted under the Massachusetts’ comprehensive permit statute (M.G.L. c. 40B). The comprehensive permit requires that 25% of the units (i.e. 36 units) are income restricted and set aside for households earning up to 80% of the Area Median Income. The project is envisioned with surface parking and two (2) four (4) story woodframed buildings comprising 134,300 gross square feet. Efficiently designed, the project offers large units, open floor plans and thoughtful resident amenity spaces, including a community room, outdoor terrace, and lounge areas.
PROCESS & PRICING
1015 Plymouth Street is offered for sale on an “as-is, where-is” basis and without a formal asking price. Upon receipt of a signed CONFIDENTIALITY AGREEMENT accessible HERE, qualified investors will be provided with the offering and access to additional due diligence materials via the Real Capital Markets website. Once investors have had an opportunity to review the offering materials and tour the property, Colliers will schedule a “Call for Offers”.