Wellesley Developments

[stick n move]

Came upon this on the side of rt 9. I thought it was the 528 boylston development in Newton at first because I wasnt aware of another apartment building being built near here along rt 9, but then realized it was in Wellesley. It hasnt been posted anywhere on here yet.

580 Worcester st. Wellesley

The 40b project brings 20 units, including 5 affordable.

https://wellesleyma.gov/DocumentCen...LLC---Architectural-Submittal-Set_6292018-PDF

https://wellesleyma.gov/1193/680-Worcester-Street

https://theswellesleyreport.com/201...-st-continued-town-meeting-to-get-its-chance/

While looking for the above I came across another 40b project going up in Wellesley.

16 Stearns rd.

40b project, 24 units, 6 affordable.

https://wellesleyma.gov/DocumentCen...ad-LLC---Architectural-Plan-Set-of-Record-PDF

https://theswellesleyreport.com/201...-st-continued-town-meeting-to-get-its-chance/

https://www.thealbionwellesley.com/

 

[stick n move]

68K Multifamily Project Approved in Wellesley​

“Re-zoning for 192-194 Worcester Street in Wellesley has been approved, transforming two business districts and a single Residence A parcel to allow a new by-right multifamily development. Designed by EMBARC, the 68,000 square-foot L-shaped buildings span over a single continuous underground garage and will provide over 16,000 square feet of enhanced open space throughout the development.”

https://www.bldup.com/posts/68k-multifamily-project-approved-in-wellesley

 

[stick n move]

Terrazza wellesley recently completed.

“Terrazza Wellesley is a collection of 35 new construction luxury condos ideally located in Wellesley Square across from the Wellesley Square train station. Terrazza features 1 Bedroom to 3 Bedroom floor plans ranging in size from 800 sq ft to 2600 sq ft and price from $1,500,000 to $3,000,000.”

https://www.elevatedboston.com/buildings/terrazza-wellesley-luxury-condos/

https://www.apartments.com/terrazza-wellesley-ma/v6rbg5f/

 

[#bancars]

Hopefully this is actually a luxury building and not just a new build, b/c those prices are steeeeep:

 

[itchy]

^^ Wow, I imagine those have to come down by 50-67% to have a chance of selling. If any fool and his money are that easily parted, I'll hand it to the developer.

 

[Justbuildit]

$1,400-$1,600/sf is Beacon Hill and Back Bay price range. There are plenty of SFHs with land in that same area of Wellesley for $3.5M and below. Unless there's some demand for suburban multifamily I don't understand this seems...odd.

 

[BosDevelop]

A bunch of these have already sold. There are plenty of Wellesley area families who are downsizing and value the proximity of this development to Linden Street, Central Street etc. For a suburb, there is lots within walking distance. Most of the buyers of these sorts of units are not the least bit concerned whether mortgage rates are 6.5 or 4.5%. That said, I can think of thousands of greater Boston properties that would be a better value for $3 million+ but I am far from the target market.

 

[shmessy]

A bunch of these have already sold. There are plenty of Wellesley area families who are downsizing and value the proximity of this development to Linden Street, Central Street etc. For a suburb, there is lots within walking distance. Most of the buyers of these sorts of units are not the least bit concerned whether mortgage rates are 6.5 or 4.5%. That said, I can think of thousands of greater Boston properties that would be a better value for $3 million+ but I am far from the target market.

The Baby Boom empty nester demographic is EXPLODING - - and they are living LONGER. Most don't want to tend lawns, shovel snow or deal with car repairs. They want close proximity to restaurants, theatres, shops, museums, doctors, etc.

Boston should be planning scores of high rise residential towers - - -interest rates are begining to come down for developers. This SHOULD BE low hanging fruit.

If only Menino or Walsh were still mayor, Boston's future in this regard would look bright. But, sadly - because I was initially excited about her - Mayor Wu has shown she cares not a whit about the growth and economic competitiveness of Boston versus other cities. Only about a low leveling as long as it is level. Very disappointed about an opportunity that will most probably be frittered away.

The departure of Arthur Jemison may be the last straw:

Bostonâs developers have had a tough go lately. Now the guy who returns their calls in City Hall is leaving town. - The Boston Globe

In Arthur Jemison, developers had a sympathetic ear in City Hall. To many of them, his departure represents a bit of a seismic event — or at least another unwanted variable tossed their way.

www.bostonglobe.com

 

[themissinglink]

Prominent block in Wellesley Square set up for redevelopment as it hits the market - The Boston Globe

The town’s new, more permissive MBTA Communities building rules are being touted in the marketing brochure for the 1.2-acre site at the corner of Washington and Grove streets.

www.bostonglobe.com