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36 Unit Residential Development Opportunity

Listing was updated on: 08/01/2019
36 Unit Residential Development Opportunity 36 Unit Residential Development Opportunity 36 Unit Residential Development Opportunity 36 Unit Residential Development Opportunity 36 Unit Residential Development Opportunity 36 Unit Residential Development Opportunity

Property Overview

Price/Rent PSF Inquire
Asset Type Land
Trade Type Sale
Acres Available 2.15
Date Available 08/01/2019
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Description

Location
Transportation and access to and from Taunton is available via Interstate 495, which provides access to Interstate 90 to the northwest and U.S. Route 6, the Mid- Cape Highway, to the southeast. The major highway’s encompassing Taunton are Interstate 495, U.S. Route 44; and State Routes 24 and 138, both running north to south between the Boston area and Fall River. The subject property is located less than one mile east of Downtown Taunton, which includes Taunton City Hall, the Taunton Police Department and the Taunton Public Library. In addition to downtown Taunton’s retail shops, Silver City Galleria, which is located less than two miles north of the subject, is a 160 store mega-mall that provides residents with national chain shopping facilities, including Sears, Macy’s, J.C. Penney, Best Buy, and a movie theater. There are a number of grocery (Wal-Mart Supercenter, Stop & Shop and Shaw’s) located with two to three miles, as well as several banks, gas stations and fast food restaurants. The Morton Hospital and Medical Center, a 153 bed general acute-care hospital is located in Taunton is less than one mile north of the subject.

Sale
MANSARD has been hired to facilitate the Sale of 44 Dean Street in Taunton, Massachusetts. This 2+ acre property consists of 2 parcels and is a part of the urban residential district. Special permits have been obtained to develop a 3-story, 36 unit residential apartment building on the site. This project is located in a gateway city as defined by chapter 23A, meaning it is eligible for two forms of tax incentives through the Housing Development Incentive Program. Benefits of this program include a real estate tax exemption on all or part of the increased property value from improvements and state tax credits for Qualified Project Expenditures. Dean Street has a traffic count of 21,000+/- vehicles a day and has 68 restaurants within a 3-Mile radius. This prime redevelopment opportunity neighbors 40 Dean Street, a 5,035 SF historical office property which is under the same ownership and is also for sale by MANSARD.

Location

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