BOSTON, MA (November 9, 2021) -- Allston Yards (AllstonYards.com) is a project of Stop & Shop with New England Development as Master Developer, in partnership with Bozzuto and Southside Investment Partners. Located in the Allston neighborhood of Boston, Allston Yards will be Boston’s newest mixed-use development.
The partnership is pleased to announce today the closing on Parcel A, Parcel B, as well as the closing of financing of Building A, with financing arranged by JLL and provided by Bank of America as Administrative Agent on behalf of Lenders, Bank of America and TD Bank. Led by Bozzuto, in partnership with Pacific Life, construction on Building A, a 165-unit residential building including a new, state-of-the-art, flagship Stop & Shop grocery store will commence in November 2021. A third quarter 2022 construction start is anticipated by New England Development to advance a planned commercial office/life science building on Parcel B.
Building A will contribute $1.25-million dollars to the Allston-Brighton Homeowner Fund created by Allston Yards to increase affordable homeownership opportunities in Allston-Brighton. The Allston-Brighton Homeowner Fund is a $4-million-dollar fund created in partnership with the Boston Home Center. This new and innovative program, developed by Allston Yards, with the support of the City and State delegations, will create a targeted program to support and increase home ownership in this area of Boston.
The multi-phase Allston Yards project will include 117,000 square feet of retail with a vibrant mix of new stores and restaurants, including the Stop & Shop new urban prototype. With residences, 350,000 square feet of office and lab space, and a one-acre community green, Allston Yards has been designed as a walkable community with open space and an ideal location for retailers, restaurants, office and life-science tenants, fitness, and services.
The project will extend and expand upon the area’s street grid, providing new connections to the Boston Landing MBTA station, while improving both pedestrian and bicycle connections. For more information, visit AllstonYards.com.
New England Development
For over forty years, New England Development has taken a creative, entrepreneurial approach to real estate development and management—delivering and sustaining successful projects across a wide range of property types. These projects transform complex challenges into preferred locations, generate long-term value to communities, afford compelling opportunities for local and national businesses, and offer sought-after experiences to a wide range of consumers.
New England Development’s robust, national portfolio includes mixed-use developments that combine retail, residential, office, and hotel uses, plus some of the country's most widely recognized and successful regional centers. A nationally celebrated planned community, outlet centers, high-end and street-front retail, airport retail, office and lab space, hotels, golf courses, restaurants, and marinas round out New England Development's diverse portfolio. With deep roots and experience in all aspects of the development, management, and operations of distinctive properties, New England Development is a partner that constructively anticipates and responds to the changing needs of retailers, shoppers, office tenants and their employees, travelers, mariners, diners, investors, and civic leaders. For more information, visit NewEnglandDevelopment.com.
Bozzuto
Bozzuto is an experience-focused real estate company distinguished by its innovative developments, dedicated customer service, and top-rated workplace culture. With award-winning expertise in homebuilding, multifamily development, construction, and management, Bozzuto is devoted to delivering extraordinary experiences for those they serve. Since its founding in 1988, Bozzuto has developed, acquired, and built more than 50,000 homes and apartments. Celebrating 33 years of creating sanctuary, Bozzuto currently manages 85,000 apartments and 3 million square feet of retail space across the U.S. For more information, visit www.Bozzuto.com.
Stop & Shop
The Stop & Shop Supermarket Company LLC is an Ahold Delhaize company. Based in Quincy, MA, Stop & Shop opened its first supermarket in 1914 in Somerville, Massachusetts. With over 100 years of operating history, Stop & Shop has become a supermarket leader in many of its communities. Today, Stop & Shop employs over 58,000 associates and operates over 400 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey, with 132 stores in Massachusetts. Stop & Shop is deeply rooted in the Boston community and is committed to making an impact locally by fighting hunger, supporting our troops through Boston-based organizations like Home Base, and investing in pediatric cancer care at Dana-Farber Cancer Institute. Stop & Shop has been a part of Boston’s Allston-Brighton community for over 20 years and will deepen its commitment to this neighborhood as part of the Allston Yards development and its new store. For more information, visit www.StopandShop.com.
Southside Investment Partners
Southside Investment Partners is a developer and owner of retail and mixed-use properties throughout the Mid-Atlantic and New England. Based in Baltimore, Maryland, the company seeks new investment opportunities across the commercial real estate spectrum – either through ground-up development, or by investing in assets in need of redevelopment. In addition to principal development and investing, Southside provides advisory services to clients including third-party consulting, site plan and design, entitlements and permitting, leasing, construction management and capital markets. Southside’s Principals have over 75 years of combined real estate experience with a full spectrum of industry expertise including acquisition, development, financing, and leasing. For more information, visit www.SouthsideInvestmentPartners.com.
# # #