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Washington
This property is made up of a 21,000 square foot, fully occupied apartment building and two adjacent parking lots with future development potential. Located in Chelsea’s Powderhorn Hill neighborhood with sweeping views of downtown Boston, the property is near the Silver Line and Commuter Rail. After acquisition, the property underwent a full energy retrofit through the Mass Save Multifamily Program and the common areas were upgraded with new lighting, laundry, security systems, and landscaping. Zip Car also installed one of its first locations in Chelsea at the property.
STRATEGY:
Repositioning
ROLE:
Sponsor
LOCATION:
Chelsea, MA
ACQUISITION YEAR:
2015
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