East Boston is certainly having a moment. There is high demand for the neighborhood's condos (what relative few there are) and apartments; big-time openings; huge sales; and fast deals. Can you blame a couple of developers for wanting in on the action?
Joseph Ricupero and John Zirpolo have filed plans with the Boston Redevelopment Authority to turn an old gas station at 320 Maverick Street in Jeffries Point into 33 condos (23 2-BRs and 10 1-BRs). While four would be set aside as affordable, the rest would be market-rate. Why? Universal Hub has the excerpt from the developers' BRA filing: "Jeffries Point has had a recent influx of young professional residents that are looking to live in the neighborhood, bringing a need for more market rate housing projects. This section of East Boston is attractive for folks commuting to work, due to its close proximity to public transportation at Maverick Square Train Station and to the Maverick Square business district." The top floor will be all penthouses, to boot, with private terraces looking out on the Boston skyline. Stay tuned.
· Five-Story Condo Building Proposed for Jeffries Point [Hub]
· Fast Times in Jeffries Point: Eastie Deal Struck in Days [Curbed Boston]
· Loft at 64 Marion Street Sets East Boston Sales Record [Curbed Boston]
· East Boston: Low Supply, High Demand, Brooklyn Bound [Curbed Boston]
· Nothing Stopping East Boston's Big New Street Project Now [Curbed Boston]
· Clippership Wharf, the Eastie Waterfront's Only Big New Condo [Curbed Boston]