Boston – New England Development, in partnership with Stop & Shop, Bozzuto and Southside Investment Partners, will soon open Allston Yards, a 1.2 million square foot mixed-use project in the Allston neighborhood of Boston. The site currently houses an older Stop & Shop store but still in operation and car parks, which will be redeveloped.
Built in several phases, Allston Yards will consist of a 165-unit apartment building; a new Stop & Shop grocery store; 117,000 square feet of retail and restaurant space; 350,000 square feet of office and laboratory space; and a one acre community green space.
Construction of Building A, which includes the apartment building and the grocery store, is expected to begin this month. Construction of the Office and Life Sciences building is expected to begin in the third quarter of 2022.
Building A will donate $ 1.2 million to the Allston-Brighton Homeowner Fund, a charity created in partnership with the Boston Home Center that aims to increase affordable homeownership opportunities in Allston-Brighton. JLL arranged the financing for Building A through Bank of America and TD Bank.
The project will expand and expand the region’s road network, providing new connections to the Boston Landing Massachusetts Bay Transportation Authority (MBTA) station and improving pedestrian and bicycle connections. A completion schedule was not provided.
Boston-based New England Development builds mixed-use projects across the country that combine retail, residential, office and hospitality spaces. Bozzuto, a developer and manager based in Greenbelt, Md., Currently manages 85,000 apartments and 3 million square feet of retail space nationwide. Southside Investment Partners, based in Baltimore, is a developer and owner of mixed-use properties in the Mid-Atlantic and New England regions.
Stop & Shop, based in Quincy, Massachusetts, operates more than 400 stores in Massachusetts, Connecticut, Rhode Island, New York State, and New Jersey. There are 132 Stop & Shop stores in Massachusetts alone.
– Kristin Hiller