On Thursday, May 16th at the Boston Harbor Hotel, Peter Sougarides from Samuels and Associates spoke to a very engaged crowd discussing the company’s upcoming project, Washington Village.
The original developer, Core Investments, bought parcels along Dorchester and Old Colony Ave that is part of a 144 acre masterplan by the City of Boston designated for redevelopment. Samuels and Associates has joined the original developer, Core Investments to develop 700 residential units, 100K square feet of retail and a large open public space all encompassed on a 4.9 acre site.
Washington Village’s name is derived from the rich history of Boston and its site during the Revolutionary War. The site is prime for residential as it is between the Andrew and Broadway T Stops. The first phase of construction will bring approximately 200 units in late 2019. Remaining units will be determined by the housing market. Of the 700 units, 100 of the units will be affordable. Along with the residential, the retail will be a big component of activating the street level. It will be a mixture of restaurants, pop-up shops and unique retailers. The public space is central to the development inviting the South Boston and Dorchester community to gather and enjoy the green space.
As it may seem that there is a large number of units being developed on this site along with the many thousands of units coming online in Boston, the data collected by the City of Boston shows that the city’s population has increased by 10% since 2010. Specifically in South Boston, the population has grown by 25% since 2000 with the largest age range in the city being 25-34 year olds living in South Boston. With the units Samuels and Associates is bringing online at this development, this will help the Mayor’s initiative of 69,000 units of housing by 2030.
There is more to come from Samuels at this site so stay tuned. We thank Peter Sougarides and the Samuels team for coming and sharing their project, Washington Village.
Also at this luncheon, the CREW Boston Educatonal Foundation awarded 3 scholarships to women interested in pursueing a career in commercial real estate upon graduation. The Foundation also kicked off their
Build Her Up Campaign, a 3-year campaign to help the Foundation to continue to grow and increase the scholarships awarded each year. Click
here to learn more about the recipients and the
Build Her Up Campaign.