Brace yourself, Southie.
A large scale project is moving forward and it’s very close to home. If the name of Widett Circle – aka – Midtown is ringing a bell, it is no doubt from the Boston 2024 Olympic bid. For the last 100 years, Widett Circle – the area between Southie and the South End – has been made up of two dozen meat and seafood wholesalers. No one really gave it a second thought until the Olympic bid pointed out this valuable piece of property. It was reported last November this area was up for sale.
According to the Boston Globe, a Boston developer is leading a group of investors on two real estate deals putting together 25 acres of development worth as much as $175 million. These deals are set to close on Friday.
It’s not entirely clear what this behemoth project will consist of yet. The developer is looking at his options and it could end up being a mixed use development similar to the neighboring Ink Block complex. How large the final plan will look like depends on whether the developer can add sites next door now owned by the City of Boston and state agencies. Hmmmmm….
The Globe goes on to state that the developer told the Boston Planning & Development Agency just last week that he was motivated to buy the property after he helped with a deal to purchase the Flower Exchange in 2016. That property will be converted into a 1.6 million-square-foot life science complete. The Widett Circle site will be four times larger.
You can learn more details by reading the full article in the Globe here.