(For more retail coverage, click GlobeSt.com/RETAIL and to read more on the multifamily market, click here.)
BOSTON-A New Jersey developer will break ground this fall on a $150-million mixed-use project that will bring 550 residential units along with retail and office space to a 28 acre site along the East Boston waterfront.
Developed by Roseland Property Co., the project, known as Portside at Pier One, is one of the first planned for the area and could transform the neighborhood into the city's newest development hotspot.
A spokeswoman for the Short Hills, NJ-based Roseland says the multiphase project will revitalize a portion of a nearby shipyard and marina, turning that area into the centerpiece of the seven building development that will sit near the water's edge. Roseland also plans to create a single-story marine services building to house a restaurant along with offices for marine-related industries. The site currently contains a large warehouse and a 5.2-acre pier.
The seven-building residential complex, one of three planned for the neighborhood, will include 177 apartment units and 373 condominiums, with retail space on the ground floor and public green space that will link the property to the Boston Harborwalk.
Portside at Pier One is one of four projects planned or already under construction by Roseland. The firm also is building 412 apartment homes in Malden called Overlook Ridge and a second Malden project known as Quarry Point that will contain 193 condominium units. It's most ambitious undertaking, however, may be in Hingham, where Roseland has partnered with Avalon Bay Communities and Samuels and Associates to redevelop the Hingham Shipyards. That project, which broke ground earlier this month, will bring a mix of several thousand sf of retail and restaurant space to a 130-acre waterfront site along with nearly 400 luxury homes and condominiums.
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