780 Morrissey Boulevard, Dorchester MA | Colliers International | Boston

1.81 Acre

Development

Opportunity

Current ownership (Bay Colony Associates LLC) is seeking a capital/joint venture partner or ground lease for the development of a 1.81 acre site located at 780 Morrissey Boulevard in the Dorchester neighborhood of Boston, Massachusetts. The site boasts high visibility along major thoroughfares Interstate 93 and William T Morrissey Boulevard.

 

Strategically situated less than five (5) miles south of Downtown Boston, the site benefits from the city’s strong transportation

infrastructure, most notably the MBTA Red Line and multiple bus stops connecting the property to key destinations throughout Boston and the surrounding area.

 

780 Morrissey Boulevard presents developers with an exceptional opportunity to capitalize on a dramatic change to the surrounding area, as this neighborhood of Boston is redeveloping faster than any other part of Boston with 39 projects recently completed or underway.

BROCHURE

AGREEMENT

780 Morrissey Boulevard, Dorchester MA | Colliers International | Boston

INVESTMENT HIGHLIGHTS

Opportunity

This opportunity includes a 1.81-acre site just five miles from downtown Boston with potential development rights for 158,104 square feet. The current zoning is a 2.0 FAR.

Proven Demand

Recently completed, neighboring residential developments are reporting rents in excess of $4.00 PSF. Demand will increase as the immediate submarket is built out and amenitized.

Location

Surrounding amenities include Savin Hill Park, UMass Boston, Boston College High School, Carson Beach and Joe Moakley Park. William T. Morrissey Boulevard and Summer Street provide an alternative access route to South Boston and the Seaport District.

Superior Market Conditions

Boston’s multi-housing submarket has historically been one of the nation’s strongest residential markets and continues strengthening today. The rental market has successfully absorbed a number of deliveries, as evidenced by the vacancy rate’s downward trend, finishing the first quarter of 2017 at 5.2%. Further, REIS projects rent growth of approximately 16.5% between 2016 and 2020.

 

780 Morrissey Boulevard, Dorchester MA | Colliers International | Boston

AERIAL VIEWS

780 Morrissey Boulevard, Dorchester MA | Colliers International | Boston

PROPERTY ZONING DETAILS

ZONING SUMMARY

The Morrissey Boulevard site is currently zoned as part of the Morrissey Boulevard Community Commercial (“CC”) Subdistrict. The intent of a CC subdistrict is to provide a diversified commercial environment that

serves larger markets.

 

Allowed Uses

Community Use, Office, Retail

 

Conditional Uses

Residential, Cultural, Educational, Entertainment, Health Care, Hotel

 

Dimensional requirements

Maximum FAR ....................................................... 2.0

Maximum Building Height ...................................... 45 ft

Minimum Lot Size .................................................. none

Minimum Usable Open Space/Dwelling Unit .......... 50 ft

Minimum Lot Width ................................................ none

Minimum Lot Frontage .......................................... none

Location - 780 Morrissey Boulevard, Dorchester MA | Colliers International | Boston

LOCATION

Contact us for more information...

mULTI-fAMILY tEAM

Christopher Sower

617-330-8141

christopher.sower@colliers.com

 

 

Jonathan Bryant

617-330-8081

jonathan.bryant@colliers.com

Bruce Lusa

617-330-8043

bruce.lusa@colliers.com

 

 

John Flaherty

617-330-8151

john.flaherty@colliers.com

Investment sales

Scott Dragos

617-330-8124

scott.dragos@colliers.com

Doug Jacoby, CCIM, MAI

617-330-8123

doug.jacoby@colliers.com

Equity/Financing

Kevin Phelan

617-330-8050

kevin.phelan@colliers.com

Jeff Black

617-330-8049

jeff.black@colliers.com

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