Yet another Boston parking lot is likely disappearing underneath a development.
Developer Boston Residential Group has purchased a triangular surface lot at 55 India Street, where the road meets the Rose Kennedy Greenway, along with 30 space in a nearby garage. The company paid $12.7 million total, per the Globe’s Tim Logan, who broke the news of the deal, which closed November 13.
Boston Residential—the same folks who brought you 319 A Street in Fort Point and Olmsted Place in Jamaica Plain, among other projects—is proposing to build a 12-story, 29-unit condo building where units will start at more than $2 million each and run to between 1,500 and 2,000 square feet. That means most will have three bedrooms and two bathrooms, according to the developer.
“The demand for new construction luxury three-bedroom condos in downtown Boston is strong, but supply is limited,” Curtis Kemeny, president and CEO of Boston Residential Group, said in statement. “We want to address that market imbalance. Fifty-five India will be a boutique offering in a service-rich building with access to what has become one of Boston’s finest amenities: the Greenway.”
The lot’s previous owner had city permits to build a 12-story condo as well, so Boston Residential will need relatively few okays to get going. Construction could start in the spring, with construction wrapping in 2021, according to Boston Residential.
The project along the Greenway joins a slew of developments planned for surface parking lots in the Boston region. These include proposals in Roxbury, downtown, Fort Point, Dorchester, Bay Village, and Back Bay.
Credit or blame the the ongoing changes in conventional Boston parking for the plans—and the push for more micromobility and safety for such. And expect more such surface-lot proposals in 2020.