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Savin Hill development parcel sells for $4.7M, sparking speculation

Right near Red Line stop

BldUp

Gerald Chan, the billionaire whose Morningside Group development company is probably best known for not doing all that much with Cambridge’s Harvard Square Theatre, now owns a prime parcel of develop-able land right off the Savin Hill Red Line stop in Dorchester.

Morningside paid $17 million for the 4.7-acre site of the former Spire Printing Company at 65 Bay Street. It’s mostly surfacing parking lots and landscaping, though there is a 78,000-square-foot industrial building on the parcel.

It’s not clear what, if anything, Chan’s Morningside has planned for the site (if the Harvard Square Theatre situation is any guide, it could be a while). The site is near another Morningside-owned parcel at 1200 Dorchester Avenue and near the multi-building Dot Block project due to add hundreds of apartments to the neighborhood.

Stay tuned.